EU NEIGHBOURS. Armenia’s private sector will benefit from new resources for green financing thanks to a US$6 million financial package put together by the European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund(GCF). The loan will facilitate the country’s transition to a more sustainable, low-carbon and climate-resilient economy.
The financing is being provided to Inecobank, one of the leading banks in Armenia, under the EBRD’s Green Economy Financing Facility (GEFF) for lending to local enterprises, which invest in climate-change mitigation and adaptation technologies and services, such as thermal insulation, photovoltaic solar panels, geothermal heat pumps and water-efficient irrigation systems.
The GEFF includes a comprehensive technical advisory package, co-financed by the GCF, which helps to originate and verify green investment opportunities, including those funded by the Climate Investment Funds (CIF). Businesses can identify green technologies available in Armenia using the GEFF Technology Selector.
The EBRD is a leading institutional investor in Armenia. It has invested more than €1.5 billion in 187 projects in the country, supporting private-sector development and the transition to a sustainable, green economy.
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Photo: European Union
