| Project Detail |
Location: Armenia Project number: 55641 Business sector: Financial institutions Notice type: Private Environmental category: FI Approval date: 15 Oct 2024 Status: Approved English-language PSD published: 18 Oct 2024 Provision of a senior loan to Araratbank (AB) of up to USD 5 million, of which up to USD 3.75 million to be provided by the European Bank for Reconstruction and Development (EBRD) and up to USD 1.25 million by the Green Climate Fund (GCF) under the GCF-Green Economy Financing Facility (GEFF) Regional Programme. Project Objectives The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies by local private sector commercial sub-borrowers in a gender-responsive way, in line with the standards and reporting requirements of the GEFF in Armenia. 100 per cent of the loan proceeds will be related to Green Economy Transition investments. AB will benefit from Technical Cooperation (TC) in form of trainings, capacity building and support for project implementation from the dedicated programme consultants. |
