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The European Bank for Reconstruction and Development (EBRD) is providing a US$ 5 million financial package to Inecobank in Armenia to facilitate the private sector’s transition to more sustainable, low-carbon and climate-resilient practices. The project is supported by the European Union with €523,000 of grant incentives.

The funding will be used by local SMEs for investments in climate-change mitigation and adaptation as well as for upgrading technologies and services to EU standards while promoting the use of green technologies. 

The package comes under the EU4Business-EBRD Credit Line, a flagship initiative helping local companies increase their competitiveness at home and abroad by upgrading their production facilities and processes to EU standards. 

Latest news
am
26.07.2022
The USD 10 million investment is part of the EFSE crisis response package to finance MSMEs operating in critical sectors. The European Fund for Southeast Europe (EFSE) has partnered with Inecobank in Armenia by providing a USD 10 million five-year facility.
am
12.07.2022
On July 1, the German Federal Minister for Economic Cooperation and Development Ms. Svenja Schulze and her delegation from Germany visited the SAP Startup Factory by BANA as part of her two-day visit to Armenia.
am
07.06.2022
On 7 June, a new EU-funded project promoting economic growth in Dilijan, in northern Armenia, was officially launched.

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