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Reference: 20220067
Release date: 17 October 2022

Promoter – Financial Intermediary

ACCEPTABLE BANK(S),ARMSWISSBANK CJSC,CREDO BANK JSC,EVOCABANK CJSC,FARM CREDIT ARMENIA UCO CC,JSC LIBERTY BANK,JSC MFO CRYSTAL,JSC TERABANK,OJSC BANK RESPUBLIKA

Location

Description

Funding to smaller financial intermediaries in countries of the Southern Caucasus to reach out to micro, small and medium enterprises (MSMEs) that currently face difficulties to access finance.

Objectives

The aim of the project is to enhance access to finance for the target Armenian beneficiaries and contribute to their financial inclusion, supporting especially micro and small businesses owned or managed by women, in line with the 2X Challenge Criteria. As such, the operation is expected to achieve a high development impact in Armenia.

Comments

Please proceed to generate the accompanying letter to the client for his signature authorising the Web publication.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

not applicable

Environmental aspects

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Signed - 29/12/2022

Milestone
Under appraisal
Approved
Signed
24 November 2022
29 December 2022

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Georgia Armenia Azerbaijan Credit lines