The European Bank for Reconstruction and Development (EBRD) is providing US$ 25 million in financial support to Ameriabank in Armenia for on-lending to private businesses in the country.
As part of the financing package; Ameriabank will receive US$ 10 million under the Women in Business (WiB) programme for on-lending in local currency to women-led small and medium-sized businesses (SMEs). The programme combines financing, technical assistance, risk mitigation in the form of first-loss cover for local financial institutions. Technical assistance and advisory services are co-funded by the EU.
An additional US$ 10 million will be to support the development of local micro, small and medium-sized enterprises (MSMEs).
Ameriabank will also receive US$ 5 million under the EU4Business-EBRD credit line, supported by the EU, for on-lending to local SMEs with export potential. WIth this funding, SMEs will be able to invest in upgrading technologies and services to EU standards while promoting the use of green technologies.
