Ameriabank secures €105 million loan from EIB Global to boost small and medium-sized businesses in Armenia

Ameriabank has partnered with the European Investment Bank (EIB Global) to secure €105 million in funding, marking the largest direct loan from EIB Global to a bank in the South Caucasus region. This landmark financing underscores Ameriabank’s and EIB’s shared commitment to promoting economic development through private sector growth and advancing Armenia’s green transition.

The funds will allow Ameriabank to offer accessible and affordable loans to micro, small, and medium-sized enterprises (MSMEs) and mid-cap companies, enabling them to invest in growth, competitiveness, and greener initiatives.

According to EIB estimates, this initiative is expected to benefit around 400 MSMEs and sustain over 15,000 jobs, further reinforcing Ameriabank’s commitment to empowering local businesses and strengthening Armenia’s economy.

Hovhannes Toroyan, Chief Financial Officer at Ameriabank, commented:  “We are pleased to partner with the European Investment Bank (EIB Global) to reaffirm our commitment to supporting micro, small, and medium-sized enterprises (MSMEs) in Armenia. This collaboration will provide local businesses with affordable funding, enabling them to reach their full potential and contribute significantly to Armenia's economic growth. As the largest lender in the Armenian economy with a solid portfolio in green and sustainable financing, we are confident in our ability to foster a more sustainable and inclusive economic future for Armenia.”

Part of the financing will be made available in Armenian drams to protect the MSMEs against currency risks. The European Union (EU) is supporting the transaction with grant funding, which enables an affordable interest rate on the loan. The initiative contributes to the EU’s goal of supporting MSMEs for a sustainable, innovative and competitive economy as one of the five pillars for Armenia under the Economic and Investment Plan for the Eastern Partnership.

“We are delighted to partner with Ameriabank to strengthen Armenia’s private sector and promote sustainable economic growth,” said Teresa Czerwińska, EIB vice-president overseeing EIB operations in Armenia. “This operation is a milestone, constituting a significant step forward in our commitment to fostering sustainable development and economic resilience, in line with both the European Union and Armenia’s priorities.”

“With this support to the Armenian MSMEs, we are delivering on our commitment to further support Armenian private sector and contribute to addressing the pressing need for access to finance including in local currency. This assistance is part of the European Investment Plan (EIP) for Armenia which is a comprehensive initiative aimed at fostering economic growth, sustainable development, and prosperity in the country. We will further build on these efforts by delivering in total €270 million under the Resilience and Growth Plan in the period 2024-2027. A large part of it will be dedicated to business development, targeted at tech, start-ups and new export opportunities, which will support Armenia’s economic diversification,” said Head of the EU Delegation to Armenia, Ambassador Vassilis Maragos.

This latest transaction follows Ameriabank’s recent $200 million financing agreement with the International Finance Corporation (IFC), strengthening the Bank’s strategic efforts to attract international funding aimed at Armenia’s sustainable economic growth.

Ameriabank is the largest lender to Armenia’s economy with a total gross loan portfolio of AMD 1.3 trillion, including an SME gross portfolio of AMD 270 billion, according to the 2024 year-end results

To date, Ameriabank has secured around USD 1.4 billion in financing from various international financial institutions, directing these funds toward Armenia's vital economic sectors. Since 2009, the bank has financed energy efficiency and renewable energy projects worth over USD 250 million with the support of international financial institutions and impact investors.

About Ameriabank

Ameriabank is a leading financial institution in Armenia, a major contributor to the Armenian economy with assets around AMD 1.9 trillion. The Bank has adopted a customer-focused approach to ensure service quality and modern banking experience in an evolving digital environment. Ameriabank is committed to doing business responsibly and advancing Armenia’s transition towards a sustainable future. For more information, visit: www.ameriabank.am

The Bank is supervised by the Central Bank of Armenia.About EIB Global 

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.  

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world.