Bank of Georgia Group PLC (the “Group”) announces that its banking subsidiary in Armenia, Ameriabank CJSC (the “Bank”), has signed a USD 200 million loan agreement with International Finance Corporation (IFC), a member of the World Bank Group.
As of the document, half of this loan (100 million) will be allocated to climate finance projects, a quarter to MSMEs, and another quarter to women-led MSMEs.
Artak Hanesyan, Ameriabank’s CEO, commented:
“This long-term loan agreement stands out as the largest of its kind ever signed between IFC and a financial institution in Armenia. Beyond its scale, the agreement is significant for its purpose: supporting business initiatives and services that address climate change challenges, empowering women entrepreneurs, and contributing to a sustainable future for Armenia. We deeply appreciate IFC’s decade-long partnership and our shared commitment to creating opportunities for businesses and people in Armenia.”
Marcelo Castellanos, IFC’s Senior Regional Manager for the Financial Institutions Group in Europe, commented:
“This partnership is part of IFC’s strategy to boost private investment in sustainable development. Ameriabank, a leader in climate financing, is a strategic partner in advancing these goals. By providing long-term funding, we aim to demonstrate the viability of climate finance products and inspire replication and scale across Armenia’s financial
sector.”
Archil Gachechiladze, Bank of Georgia Group PLC’s CEO, commented:
“This transaction is another step towards facilitating sustainable development and supporting the high-growth Armenian economy. Ameriabank is a leading franchise in the country and it will continue to empower businesses and drive positive impact for local communities. I would like to thank the IFC and Ameriabank teams for their successful collaboration.”
The Bank of Georgia Group acquired Ameriabank, one of Armenia's leading financial institutions, in 2024.
