Ameriabank and the Dutch Development Bank (FMO) have signed a EUR 40 million loan agreement. This 5-year term facility will be dedicated to funding renewable energy and energy efficiency projects in Armenia and financing young and female entrepreneurs in the country.

“This is another remarkable achievement which we celebrate with our long-standing partner FMO. The renewable energy financing will further promote sustainable development of the clean energy sector while ensuring efficient use of Armenian energy by the enterprises and the population,” said Ara Sargsyan, Head Corporate Finance Unit of Ameriabank.

Cooperation between FMO and Ameriabank dates back to 2009, when FMO first financed Ameriabank in support of SMEs and RE projects in Armenia.

FMO’s Chief Investment Officer Linda Broekhuizen noted: “FMO is proud of its strong and successful relationship with Ameriabank, supporting the further economic development of Armenia. This new loan facility will enable Ameriabank to continue its growth.”