Armenia’s largest bank and the Global Climate Partnership Fund have agreed on a USD 30 million loan facility destined to finance corporate energy efficiency measures in sectors such as agriculture and industry in Armenia.
AmeriaBank is the country’s largest bank, both by assets and loan portfolio, and primarily caters to corporate and SME clients. The bank has been actively providing financing for climate-related projects for several years and plans to further develop its portfolio in the field.
The Fund’s technical assistance facility will also be instrumental in developing additional lending opportunities, particularly in the area of energy efficiency.
“Through this cooperation with the Global Climate Partnership Fund, we look forward to further expanding both our outreach and our specific know-how in the area of green lending. We believe that this initiative will influence the development of several important sectors of the Armenian economy through the usage of environmentally-friendly technologies,” explains Artak Hanesyan, Ameriabank CEO.
Claudia Arce, Chairperson of the board at the Global Climate Partnership Fund, added, “Armenia offers huge potential for energy investments, for instance in state-of-the-art equipment or quality housing stock. Given its leading market position, AmeriaBank is ideally placed to execute these investments with SMEs and corporates. The high diversification within the bank’s loan portfolio means that there are multiple avenues open for climate-related lending.”
AmeriaBank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. For its outstanding financial performance, efficient activity, strategic approaches in view of the current economic situation and tough competition, Armenia’s leading bank was named “Bank of the Year in Armenia 2016” by The Banker, a Financial Times publication, winning the award for the fourth time and the second year in a row. In 2016, Ameriabank was recognized as the Best Bank in Armenia by Euromoney and Global Finance.
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