The EBRD and ArmSwissBank have signed a US$ 4 million loan agreement – joining the GEFF in Armenia Phase II supported by the Green Climate Fund (GCF).
Within the scope of the second phase of GEFF in Armenia, the bank will offer loans to the corporate clients for up to 4 years of maturity and with preferential terms. Funding will be available for investments in green technologies, particularly in climate adaptation and mitigation technologies, i.e. thermal insulation, solar PV power plants, geothermal heat pumps, water-efficient irrigation systems will be funded. Up to 1,300 pre-approved high-performance technologies can be accessed by the bank clients through Green Technology Selector (GTS). The Facility also includes a comprehensive package of technical assistance to local businesses to help identify and seize opportunities for green investments. The GCF will support the Facility by providing incentive grants to eligible green projects. Financing green projects have always been one of the bank’s strategic directions. Before participating in these programmes, the bank, in cooperation with EBRD and other international financial partners, funded more than 100 “green” technology projects. During the first phase of the GEFF in Armenia, ArmSwissBank has contributed to producing 5.5 GWh/year clean energy and GHG reduction by 2,747 tonnes/year, disbursing US$ 2.5 million equalling funds.
The bank has been cooperating with the EBRD since 2010. The cooperation is actively developed in SME Lending, Trade Finance, Green Finance and the Global General Repo Agreement (GMRA), which regulates the process of concluding repo transactions with securities in the international financial markets, adopted by the International Capital Markets Association (ICMA).
Source: EBRD
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