EFSE boosts support for women entrepreneurs in Armenia with USD 10 million loan to AraratBank
The European Fund for Southeast Europe (EFSE) has extended a USD 10 million loan facility to AraratBank. This investment, complementing the support from early 2024, aims to empower women entrepreneurs by facilitating access to finance.
The new funding will enable AraratBank to issue over 300 sub-loans with longer maturities, targeting micro, small, and medium-sized enterprises (MSMEs) and especially those that are either majority owned or led by women.
This initiative is part of a broader EFSE’s effort to bolster business sustainability and job creation in Armenia, with the potential to support nearly 1,500 jobs and stimulate further investment in the MSME sector amidst ongoing geopolitical challenges.
An impact investment fund established in 2005, the European Fund for Southeast Europe (EFSE) aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region.
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