In collaboration with ACBA Bank and the European Bank for Reconstruction and Development (EBRD), ACBA will allocate €50 million for the financing and development of small and medium-sized enterprises (SMEs) in Armenia.
According to the bank’s press service, within the framework of this partnership, the EBRD is introducing a new financial instrument in Armenia for the first time. The EBRD will share the risk of loan repayment provided by the financial structure, taking on up to 50% of the financial risks for loans amounting to €50 million allocated by ACBA Bank to support SMEs.
This cooperation will significantly expand the financial support provided to small and medium-sized enterprises in Armenia.
EBRD President Odile Renaud-Basso noted that from Mongolia to Europe, ACBA Bank is the first partner with whom the EBRD is launching this project.
The agreement was signed during the annual business forum of the European Bank for Reconstruction and Development in Yerevan, which brings together high-ranking EBRD officials, financial representatives, and business leaders to discuss and address global financial challenges.
ACBA Bank is one of the leaders in Armenia's banking system and the absolute leader in agricultural financing. ACBA Bank and the European Bank for Reconstruction and Development have been cooperating since 2003 and have a more than 20-year history of successful partnership.
To date, the European Bank for Reconstruction and Development has invested over €2 billion in 207 programs in Armenia.
