The European Investment Bank (EIB Global) today granted a €105 million loan to Ameriabank (Armenia) – its largest direct loan to a bank in the South Caucasus region. The operation aims to finance investments in micro, small, and medium-sized enterprises (MSMEs) and mid-caps in Armenia, with the aim of supporting their growth, competitiveness and adoption of greener and more sustainable practices.
The financing will enable Ameriabank to offer affordable loans to local businesses. The operation is expected to benefit approximately 400 MSMEs and sustain over 15,000 jobs in the Armenian economy. At least 20% of the loan will be directed towards green investments, contributing to Armenia’s transition to a more sustainable and resilient economy.
Part of the financing will be provided in local currency to protect MSMEs against currency risk. The European Union is supporting the operation with grant funding, which will help ensure the loan’s interest rate remains affordable.
“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,” said the Head of the EU Delegation to Armenia, Ambassador Vassilis Maragos. “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.”
Under its Economic and Investment Plan for the Eastern Partnership, the EU aims to support 30,000 Armenian MSMEs.
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