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EBRD provides US$ 12.5 million financing to ACBA Credite Agricole Bank in Armenia

The EBRD is providing ACBA with a US$ 9 million loan equivalent in local currency for on-lending to MSMEs, and a further US$ 3.5 million equivalent in local currency for energy efficiency loans. The EBRD’s funds will help ACBA to continue supporting viable MSMEs, whose access to finance, especially in local currency, remains limited. This will be the first energy efficiency credit line to ACBA, and is aimed to be on-lent to the residential sector as well as to MSMEs, in order to improve energy efficiency through investments in best performing technology.