Ardshinbank Signs Over USD 155 Million Loan Agreement with the European Bank for Reconstruction and Development (EBRD)

ArmInfo.  On 26 November, Ardshinbank and the EBRD signed three agreements under a new cooperation package, totaling more than USD 155 million equivalent in financing. The funds are aimed at supporting lending to micro, small and medium-sized enterprises (MSMEs), expanding green economy financing, and developing infrastructure in the country.

Through this financing, and within the framework of the “EU4Business-EBRD” Credit Line Ardshinbank becomes the first bank in Armenia to receive a dedicated loan that is aimed exclusively at the economic integration of displaced people by improving access to finance for local MSMEs which are either owned by refugees or creating jobs for refugees aimed to support the economic integration of displaced people. The loan aims to enhance access to finance for local MSMEs that are either owned by refugees or create jobs for refugees. The program also includes a cashback grant of up to 35% of the loan amount, offered under flexible and accessible terms.

By joining the EBRD’s Green Economy Financing Facility (GEFF), the Bank will channel the funds into one of the most progressive sectors of the economy - Green Economy financing - aimed at mitigating the challenges of climate change and promoting the implementation of modern, energy-efficient projects in Armenia. Borrowers under this program will also benefit from grant opportunities.

“Our strong and long-standing partnership with the EBRD reflects our shared strategic vision and mutual trust in driving the development of key sectors of the economy. This financing will contribute to enhancing the competitiveness of the Bank’s financial services, as well as to positioning ourselves in line with the growing and evolving needs of our clients,” noted Artak Ananyan, Chairman of the Management Board of Ardshinbank.

George Akhalkatsi, Head of the EBRD’s Armenia Office, stated: “This new financing with Ardshinbank is a continuation of our long-standing support for Armenian MSMEs, aimed at boosting new investments and modernization. For the first time, we are also introducing a component dedicated exclusively to supporting refugees, which will enable displaced individuals and their businesses to benefit from flexible opportunities, contributing to a more resilient and inclusive private sector.”

The EU Ambassador to Armenia, Vassilis Maragos, added: “Through this cooperation with Ardshinbank and the EBRD, the EU reaffirms its commitment to fostering sustainable and inclusive development in Armenia. This financial package plays an important role in strengthening the competitiveness of Armenian businesses and ensuring fair lending practices for all citizens.”

Ardshinbank is a long-standing partner of the EBRD. As a leading institution in the financial system, with the country’s largest branch network and a customer base of around 580,000, the Bank continues to play a significant role in supporting private sector development.

Ardshinbank is the only company in Armenia with credit ratings from all three major global rating agencies—Standard & Poor’s (BB- / Stable), Moody’s (Ba3 / Stable), and Fitch (BB- / Stable).

The Bank holds a rating equal to that of the Republic of Armenia, the highest possible rating level for a private company.