ARMENIA MSME RESILIENCE FACILITY - ACBA

Promoter – Financial Intermediary

ACBA BANK OJSC,ACBA LEASING CREDIT ORGANIZATION CJSC

Location

• Armenia

Description

The project will contribute to finance projects implemented by micro, small and medium-sized enterprises (SMEs) and Midcaps in Armenia.

Additionality and Impact

The operation aims to finance eligible small and medium sized investments undertaken by MSMEs and Mid-Caps in Armenia, thereby contributing to economic resilience, employment generating activities and alleviating the economic burden of the recent displacement crisis in the country. MSMEs make up the vast majority of firms in Armenia and, as such, play a vital role in creating and safeguarding employment. Lack of access to long-term finance has been identified as one of the most significant obstacles to the expansion of MSMEs, and the proposed operation is expected to address these problems.

Objectives

The aim is to enhance access to finance for the target beneficiaries through the intermediary' branch network in the country.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 55 million

Total cost (Approximate amount)

not applicable

Environmental aspects

The intermediary institution has to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the sub-projects will comply with national legislation and the EIB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.

Procurement

The intermediary institution to take all requisite measures to ensure that any procurement procedures carried out by final beneficiaries for the sub-projects that the Bank finances are in accordance with the EIB's Guide to Procurement.

Status

Signed - 26/07/2024