Ameriabank, part of the international Bank of Georgia Group PLC (BOGG), has signed the largest loan agreement in Armenia's financial sector history with the International Finance Corporation (IFC). The $200 million funding will support climate initiatives, the growth of micro, small, and medium-sized enterprises (MSMEs), and businesses led by women.
Half of the funds will be allocated to climate finance projects, while 25% will go to MSMEs and another 25% to women-led businesses. These investments are expected to create thousands of jobs over the coming years and significantly reduce annual greenhouse gas emissions—by approximately 40,000 tons of CO₂ equivalent.
“This agreement is unique not only because of its scale but also due to its purpose: to support business initiatives addressing climate challenges, empower women entrepreneurs, and contribute to building a sustainable future for Armenia,” said Artak Hanesyan, Chairman and CEO of Ameriabank.
Marcelo Castellanos, Regional Senior Manager for IFC’s Financial Institutions Group in Europe, highlighted that this partnership aligns with IFC’s strategy to stimulate private investments in sustainable development. “By providing long-term financing, we aim to demonstrate the viability of climate finance products and encourage their adoption across Armenia’s financial sector,” he stated.
Ameriabank, the largest lender to Armenia’s economy, has a total loan portfolio of AMD 1.1 trillion. As of September 2024, the bank’s MSME portfolio reached AMD 252 billion, marking an impressive 25% year-on-year growth. Since 2009, Ameriabank has directed over $250 million to energy efficiency and renewable energy projects.
