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Reference: 20230970
Release date: 26 June 2024

Promoter – Financial Intermediary

INECOBANK CJSC

Location

Description

The facility consists of a loan to Inecobank to support micro, small and medium sized enterprises (MSMEs) and Midcaps in Armenia.

Objectives

The aim is to enhance access to finance to the target beneficiaries implementing eligible projects in the country.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 40 million

Total cost (Approximate amount)

not applicable

Environmental aspects

Inecobank should take all requisite measures to ensure that the procedures carried out by the final beneficiaries comply with the national legislation, the EIB's Environmental and Social Standards as well as the international treaties and conventions signed and ratified by or otherwise applicable and binding in Armenia.

Procurement

Inecobank should take all requisite measures to ensure that all the procurement procedures carried out by the final beneficiaries comply with the national legislation, in line with the EIB's Guide to Procurement.

Status

Signed - 8/10/2024

Milestone
Under appraisal
Approved
Signed
17 May 2024
8 October 2024

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

Armenia Credit lines