The European Bank for Reconstruction and Development (EBRD) is providing a US$ 25 million financial support to Ameriabank in Armenia for on-lending to private businesses in the country.

As part of the financing package Ameriabank will receive US$ 10 million under the Women in Business (WiB) programme for on-lending in local currency to women-led small and medium-sized businesses (SMEs).

The programme combines financing, technical assistance, risk mitigation in the form of first-loss cover for local financial institutions, supported by the Small Business Impact Fund, and business advisory services to support women-led SMEs. Technical assistance and advisory services are jointly funded by the European Union (EU), and Sweden.

Additional US$ 10 million will be to support the development of the local micro, small and medium size enterprises (MSMEs).

Ameriabank will also receive US$ 5 million under the EU4Business-EBRD credit line, supported by the EU, for on-lending to local SMEs with export potential for investments in upgrading technologies and services to the EU standards while promoting the use of green technologies.

To note, the EU4Business-EBRD Credit Line is a flagship initiative helping local companies increase their competitiveness at home and abroad by upgrading their production facilities and processes to the EU standards. At least 70 per cent of the loan proceeds will be used to finance investments in green technologies in accordance with the EBRD Green Economy Transition (GET) approach. Borrowers are eligible to receive incentive grants and technical advice, both funded by the EU under the EU4Business initiative.