The European Bank for Reconstruction and Development (EBRD) has announced that it has extended fresh funds to Armenian Acba Bank, supported by the European Union and Sweden.
A US$10 million EBRD loan to Acba, one of Armenia’s leading banks, will help it boost local currency lending to women-led small and medium-sized enterprises, with an emphasis on reaching new clients and financing firms in rural areas.
According to the EBRD, women-owned firms account for 33 per cent of all businesses in Armenia. This financing will aim to address Armenia’s gender-related inclusion gap in access to finance.
The new funding comes under the EBRD’s Women in Business (WiB) programme, supported by the EU and Sweden and designed to boost female entrepreneurs’ access to finance and expertise with training, mentorship, and tailored advisory service.
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The EBRD is a leading institutional investor in Armenia. The Bank has invested more than €2 billion in 207 projects in the country to date, supporting private-sector development and the transition to a sustainable, green economy.
