Armenia: Proparco and Ameriabank signed USD 20 million Credit Facility Agreement

The financing will be directed to energy efficiency, renewable energy, agribusiness, food processing, education and healthcare projects in Armenia. This is crucial for supporting business, speeding up economic growth, increasing employment. The long-term financing with flexible terms will support the growth and expansion of business activities in the country and increase competitiveness of Armenian companies both on local and export markets.

This is a repeat transaction that Ameriabank and Proparco have signed since year 2013 when Proparco signed its first credit facility agreement in Armenia and disbursed 15 million USD to Ameriabank for SME, energy efficiency and renewable energy project financing. Three years later Proparco expanded the range of economic sectors to be financed by the new credit facility agreement signed with Ameriabank.

“We are pleased about the relationship starting from 2013 with AmeriaBank, the leading financial institution in Armenia. This new financing of 20 million USD will enable AmeriaBank to develop its project portfolio in renewable energy and support the bank’s growth in the sectors of social housing, farming, health and education. Supporting those sectors is clearly in Proparco and AFD’s mandate”, said Guillaume Barberousse, Head of FI, Proparco.

“Ameriabank highly appreciates the cooperation with Proparco. The second larger in its size credit facility agreement will undoubtedly expand the scope of our cooperation, serving a wider group of our Clients from various areas. We believe that this is a remarkable day for Armenian and French business relations. This agreement will serve as a solid ground in creating new opportunities for Ameriabank’s loan portfolio diversification in key infrastructures of Armenian economy”, said Artak Hanesyan, CEO, Ameriabank.