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EBRD Invests $13.5 Million in Armenia's First "Green" Telecom Bonds

EBRD
Arshaluis Mgdesyan
20.12.24 16:15
58

The European Bank for Reconstruction and Development (EBRD) has become the leading investor in the largest sustainable bond issuance in Armenia's telecommunications market. This marks the second-largest bond issuance on the Armenian capital market, fostering the development of the country's financial sector while supporting ambitious environmental goals.

The total bond issuance amounts to $75 million. In addition to the EBRD, the financing involves the International Finance Corporation, the Asian Development Bank, and Proparco. The bonds are listed on the Armenian Stock Exchange.

Proceeds will be used to modernize telecommunications infrastructure and expand the network, including extending 4G+ coverage and fiber-optic penetration. Key priorities include improving cybersecurity and promoting gender equality. The issuing company has committed to reducing greenhouse gas emissions by 40% by the end of 2029.

“This bond issuance represents a significant step toward modernizing Armenia's telecommunications sector and advancing a responsible and sustainable digital future,” said Hayk Yesayan, CEO of the telecommunications company.

Georgy Akhalkatsi, Head of the EBRD Office in Armenia, highlighted that these are the country's first sustainable development bonds fully aligned with the International Capital Market Association's principles. The investment continues the EBRD's successful collaboration with Armenia's telecommunications sector, initiated in 2022.

To date, the EBRD has invested €2.5 billion across 221 projects in Armenia, contributing to the development of various sectors in the country’s economy and its transition to green technologies.

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