New Armenian Consulate opens in Bari, Italy Paris mayor Hidalgo bathes in the Seine to dispel water quality woes Ruben Rubinyan receives Ambassador of Iran to Armenia European Commission says it cannot strip Hungary of its EU presidency Macron accepts PM Attal's resignation Russia has no intention to interfere in internal US processes: Peskov Under Secretary of State visited new buildings of Patrol Service and operational management MEPs call to strip Hungary’s EU voting rights amid Orbán’s ‘peace missions’ - POLITICO Armenia reaffirms its commitment to the implementation of the 2030 Agenda-Ararat Mirzoyan Yerevan and Baku need to make 'tough compromises’ to reach a final agreement - Matthew Miller 

US$30m OPEC Fund loan to Ameriabank to promote sustainable energy and support small businesses in Armenia

Society

The OPEC Fund for International Development (the OPEC Fund) and Ameriabank, the largest universal bank in Armenia, have signed a US$30 million long-term senior loan agreement to support private sector development in the country.

Nearly 50 per cent of the OPEC Fund’s loan will be directed at financing small and medium-sized enterprises (SMEs), providing access to finance and allowing businesses to receive the necessary funds to grow their businesses and to retain and create jobs. The other half of the loan will be dedicated to support green projects, increasing energy efficiency and reducing carbon emissions in Armenia. The financing is in line with the partners’ commitment to Sustainable Development Goal (SDG) 7 – Affordable and Clean Energy, and SDG 8- Decent Work and Economic Growth.

Tareq Alnassar, OPEC Fund Assistant Director-General, Private Sector and Trade Finance Operations, said: “We are happy to continue our successful cooperation with Ameriabank with a new facility to finance SMEs, energy efficiency and renewable energy projects in Armenia. Our new loan will help to provide working capital for SMEs, promote sustainable energy and contribute to economic resilience.”

The OPEC Fund and Ameriabank have been cooperating since 2015, contributing to the Armenian economy through SME financing and trade finance facilities. The first financing (US$20 million) supported SMEs in Armenia across a diverse range of sectors including wholesale trade, material production, food production and the hotel industry. The second (US$25 million) loan helped fund the expansion of Ameriabank’s international trade portfolio. The two facilities supported over 130 businesses in Armenia.

Artak Hanesyan, CEO of Ameriabank, commented: “I would like to express my gratitude to the OPEC Fund for our long-standing fruitful cooperation. SME financing has been our strategic focus, and we are happy to be joining efforts again to offer long-term financing to our small business clients. In line with our green strategy the funds will be primarily directed to energy efficiency projects, improving Ameriabank’s environmental footprint further.”

Ameriabank is the largest bank in Armenia by key indicators and rapidly growing its business with a special focus on green financing. Since 2009, the bank has financed more than US$250 million in renewable energy projects including solar photovoltaic and wind power.

About the OPEC Fund

The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established by the member countries of OPEC in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$22 billion to development projects in over 125 countries with an estimated total project cost of US$187 billion. Our vision is a world where sustainable development is a reality for all.

Ameriabank CJSC

Ameriabank is a dynamically developing bank and one of the major and most stable financial institutions in Armenia with clearly formulated digital agenda. The first investment bank in Armenia, Ameriabank is a universal bank offering innovative corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameriabank is the leading bank in Armenia as measured by all key financial indicators (assets, liabilities, loans portfolio, net profit and equity) according to Q3 2021 reportable data.

For further information, please visit www.ameriabank.am 

Հետևե՛ք -ին Youtube-ում`
New Armenian Consulate opens in Bari, ItalyParis mayor Hidalgo bathes in the Seine to dispel water quality woesMagdalena Grono to replace Toivo Klaar as EU Special Representative for the South CaucasusRuben Rubinyan receives Ambassador of Iran to ArmeniaMeeting of Ministers of Foreign Affairs of Armenia and LebanonAccess to a number of settlements in Belgorod region to be restrictedEuropean Commission says it cannot strip Hungary of its EU presidencyKim Kardashian talks about how worsening psoriasis affected her preparation for the Met GalaAl Jazeera: Israeli strikes on Gaza Strip kill 48 peoplePrime Minister Pashinyan left for the UK on a working visitOil Prices DownMacron accepts PM Attal's resignationBiden discloses what would make him drop out of 2024 raceProud that EU support is saving lives of people in Azerbaijan: EU ambassador on deminingRussia has no intention to interfere in internal US processes: PeskovPossibility of strengthening domestic relations between Azerbaijan and Israel discussedUnder Secretary of State visited new buildings of Patrol Service and operational managementThe son of India's richest man receives a gold Dartz SUV as a wedding giftMeeting of Foreign Minister of Armenia and Minister of Economy of OmanHalle Berry refuses to participate in the Kim Kardashian seriesSynchron integrates ChatGPT with human brainMEPs call to strip Hungary’s EU voting rights amid Orbán’s ‘peace missions’ - POLITICOArarat Mirzoyan and the Minister of Economy of Oman discussed the possibilities of enhancing cooperation between the two countriesArmenia reaffirms its commitment to the implementation of the 2030 Agenda-Ararat MirzoyanOil Prices DownHostages’ relatives block Tel Aviv highwayTrump appears with bandaged ear at Republican conventionYerevan and Baku need to make 'tough compromises’ to reach a final agreement - Matthew Miller France will continue to adhere to all international obligations: MacronWe hope that permanent peace will be established between Azerbaijan and Armenia soon: ErdoganMy team will fight for creation of a 'strong region': Masud PezeshkianArmenia is interested in deepening and developing multi-sectoral cooperation with Georgia: PashinyanChances of finding survivors slim after Nepal landslide, official says'I am running and we're going to win,' Biden says as his campaign strugglesElon Musk donates to group working to elect Donald Trump: BloombergBiden: I'm determined to runNew tool will allow to transfer photos and videos from Google Photos directly to iCloud PhotosNaomi Campbell enjoys shopping in Ibiza Old Town100,000 fans want to attend Mbappe's presentation at Real MadridErdogan spoke about Biden's promise to resolve the issue of F-16 deliveries to TurkeyThe wedding of the son of Asia's richest man Anant Ambani and Radhika Merchant will cost $320 millionViktor Orbán met with Donald TrumpFrank Pallone: US should support Armenia's sovereignty and defenseBiden did not authorize Ukraine to strike U.S. weapons deep into RussiaBrooch for a billionaire: Diamond weighing more than 50 caratsGeorgian Defense Minister arrives in Armenia on an official visitBiden confused Zelensky with PutinGaluzin: Russian Federation is concerned that EU mission in Armenia may become permanentMher Grigoryan, Samantha Power discuss digital transformation agenda of ArmeniaSamantha Power announces USD 5 mln. support to help Armenia digitalize government system
Most Popular