The OPEC Fund for International Development (the OPEC Fund) and Ameriabank, the largest universal bank in Armenia, have signed a US$30 million long-term senior loan agreement to support private sector development in the country, the Bank said in a statement
Nearly 50 per cent of the OPEC Fund’s loan will be directed at financing small and medium-sized enterprises (SMEs), providing access to finance and allowing businesses to receive the necessary funds to grow their businesses and to retain and create jobs. The other half of the loan will be dedicated to support green projects, increasing energy efficiency and reducing carbon emissions in Armenia. The financing is in line with the partners’ commitment to Sustainable Development Goal (SDG) 7 – Affordable and Clean Energy, and SDG 8- Decent Work and Economic Growth.
Tareq Alnassar, OPEC Fund Assistant Director-General, Private Sector and Trade Finance Operations, said: “We are happy to continue our successful cooperation with Ameriabank with a new facility to finance SMEs, energy efficiency and renewable energy projects in Armenia. Our new loan will help to provide working capital for SMEs, promote sustainable energy and contribute to economic resilience.”
The OPEC Fund and Ameriabank have been cooperating since 2015, contributing t...
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