EBRD extends a second energy efficiency loan to SEF in Armenia


European Bank for Reconstruction and Development has extended a second energy efficiency loan facility to SEF International, a VisionFund microfinance in Armenia.

SEF International will utilize USD 1 million worth of local currency funds to support energy efficiency lending to rural customers.

The sub- loans, which are expected to become available this July, will focus primarily on making heating, cooling, ventilation systems and small business equipment more energy and cost efficient.

As SEF caters to the base of the pyramid, the loans are expected to be in the range of USD 300 to USD 600, with a 10% European Union grant element attached to the sub-loans.

EBRD extended the first USD 1 million facility to SEF in 2014.

The funds were allocated to more than 1600 customers, mostly from rural regions of Armenia with an average loan size of USD 500 equivalent.

"We are excited to continue the collaboration with EBRD, which help us reach out to people with limited access to such facilities.Thus we expand the range of products offered, and add a third, environmental, dimension to our model of social mission and commercial sustainability." outlined Garegin Gevorgyan, CEO of SEF.


About SEF International

SEF is a VisionFund/WorldVision microfinance operation in Armenia. While a small player in asset size at USD 22 million, SEF is a trend setter as number 3 agricultural lender in Armenia, with 30 thousand clients and 20 branches across country, and industry leading profitability and portfolio quality metrics.

We are a mission-driven company with a goal to deliver access to finance to underserved communities and families in Armenia, in support of better quality of life for their children.