EU NEIGHBOURS. The EU and the European Bank for Reconstruction and Development (EBRD) have provided up to €16 million to support the launch of the Amber Capital EU-Armenia Small and Medium-Sized Enterprises (SME) Fund. This new private equity fund seeks to raise a total of €70 million to invest in SMEs in Armenia.
The Fund will be managed by an international investment firm with an established office and team of professionals in Armenia, and will seek to build a diversified investment portfolio across sectors including renewable energy, agriculture, manufacturing, tourism, information technology and logistics.
Through its equity investments, the Fund will seek to enhance the competitiveness of beneficiary SMEs, including by improving corporate governance and transparency and helping the SMEs to internationalise.
The facility also includes capacity-building consultancy, offered to local enterprises through the EBRD’s EU-supported Advice for Small Businesses programme, to enhance the SMEs’ investment readiness and competitiveness.
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“The EU is a key partner for economic development and prosperity in Armenia”, said Katarina Mathernova, Deputy Director-General for Neighbourhood Policy and Enlargement Negotiations at the European Commission. “The EU is proud to be adding a new innovative tool to unleash the potential for SME development in Armenia, creating jobs and providing concrete benefits to the people.”
Through this Fund, the EU aims to support the growth and competitiveness of the Armenian economy, attract foreign direct investment and help further develop innovation based on the talents of Armenians.
