EBRD scales up support for MSMEs in Armenia
May 21, 2024

EBRD scales up support for MSMEs in Armenia


The European Bank for Reconstruction and Development (EBRD) is boosting its support for micro, small and medium-sized businesses (MSMEs) in Armenia by extending new financing to Armeconombank.

The EBRD’s loan of up to €9.2 million will be provided in Armenian drams under the EBRD’s SME Local Currency Programme and is supported by a 12.5 per cent first-loss risk cover arrangement funded by the same programme.

The announcement was made at the EBRD’s Annual Meeting 2024, which this year took place on 15-16 May in Yerevan.

The EBRD funding will support Armeconombank’s growth strategy, to diversify and expand its services in the MSME segment, focusing on regional clients. The loan will strengthen Armeconombank’s funding base and enable the bank to meet growing demand for long-term local-currency financing for MSMEs. 

In addition, the project plans to promote economic inclusion, aiming to allocate 50 per cent of the loan proceeds to on-lending to women-led businesses.

Find out more

Press release



MOST READ



Interested in the latest news and opportunities?

This website is managed by the EU-funded Regional Communication Programme for the Eastern Neighbourhood ('EU NEIGHBOURS east’), which complements and supports the communication of the Delegations of the European Union in the Eastern partner countries, and works under the guidance of the European Commission’s Directorate-General for Neighbourhood Policy and Enlargement Negotiations, and the European External Action Service. EU NEIGHBOURS east is implemented by a GOPA PACE-led consortium. It is part of the larger Neighbourhood Communication Programme (2020-2024) for the EU's Eastern and Southern Neighbourhood, which also includes 'EU NEIGHBOURS south’ project that runs the EU Neighbours portal.


The information on this site is subject to a Disclaimer and Protection of personal data. © European Union,