EBRD provides US$ 2 million financing to ArmSwissBank

05/07/2015

In June 2015 the European Bank for Reconstruction and Development (EBRD) and ArmSwissBank concluded a new USD 2 million loan agreement within the frameworks of the Caucasus Energy Efficiency Programme, known in Armenia as “Energocredit”. 

This is the fourth loan agreement between ArmSwissBank and EBRD within the cooperation established in 2010. This testifies to successful long-term partnership. Since 2010 the loan resources provided to ArmSwissBank by EBRD have exceeded USD 20 million. 

ArmSwissBank’s corporate clients that meet Energocredit requirements can receive loans to make energy efficient investments.  Companies that are engaged in a variety of economy segments such as food processing, agriculture, production, construction and renewable energy can be eligible for Energocredit loans to take measures of inputting energy saving and energy efficient technologies.  ArmSwissBank will provide loans in US dollars for up to 5 years with 10-11% annual interest rate.

 

The Energocredit loan package offers additional benefits by donors of the programme such as a cash back payment and free technical expert advice. The European Union Neighbourhood Invest­ment Facility rewards the environmentally friendly investments with 10 or 15% cash back of the loan amount, the technical expert advice is provided by the Aus­trian Ministry of Finance.