- 10 million USD loan package to "ARMSWISSBANK" CJSC
- Promotion of competitiveness and "green transition" of local SMEs
- Donor support from the European Union
ARMSWISSBANK has attracted a financial package of USD 10 million from the European Bank for Reconstruction and Development (EBRD) to increase private sector investment, increase competitiveness, and finance a more "green" and sustainable development sector in Armenia.
The bank received USD 5 million under the EU4Business-EBRD credit line, which will be provided to local small and medium-sized enterprises (SMEs) that have the potential to increase exports by upgrading production and acquiring new, greener equipment.
This program, a flagship initiative of the EBRD and the European Union (EU), helps local companies increase their competitiveness in the domestic market and abroad by improving their production capabilities and processes in line with EU standards. At least 70 percent of the loans will go to support the "green transition". Borrowers will receive incentive grants and professional advice funded by the European Union within the framework of the EU4Business initiative.
The remaining 5 million US dollars will provide an opportunity to finance local SMEs, which are the primary source of private sector employment and the most important part of Armenia's economy. Financing under these bank programs is also available outside the capital, in the regions, by offering longer-term financing and attracting new customers.
This funding package also includes support from the European Union under its European Fund for Sustainable Development (EFSD+) guarantee scheme.
The financial package agreements were signed by EBRD Executive Director for Financial Institutions, Francis Malige, and Gevorg Machanyan, Chairman-CEO of ARMSWISCBANK CJSC, within the framework of the 2024 EBRD Annual Conference and Business Forum in Yerevan.
Armswissbank and EBRD are long-standing partners. The bank operates in the corporate and investment banking market, offering both traditional and innovative financial solutions.
EBRD is a leading institutional investor in Armenia. Since the very beginning of its activity in Armenia, the Bank has invested more than 2.09 billion euros in 201 projects of the country's financial, corporate, infrastructure and energy sectors, 92 percent of which are in the private sector.
