YEREVAN, October 31. /ARKA/ Acba Bank has been keeping the “Sustainable Development” agenda in Armenia in the center of its attention.
According to the press service of the bank, the main goal of “sustainable development” is to ensure the quality of human life.
Since its inception, Acba has always been committed to the sustainable development of society, enabling it to contribute to the development and preservation of social and ecological environment in Armenia.
As a result, Acba Bank has been constantly developing its financial services, especially green finance, with innovative solutions, for the sake of the development of Armenia and the Armenian economy.
Acba Bank is currently undergoing a transformation process, as a result of which in the first quarter of 2024 it will introduce new green finance instruments, as well as start the process of issuing green bonds.
Acba is also currently enabling many green finance instruments such as trade finance products, loans for green businesses, solar power plants and water heaters, community energy efficiency programs, and the possibility to use Acba Leasing’s Green leasing sub-brand Acba Leasing products from Acba Bank branches.
“Acba Bank attaches great importance to environmental protection and development. Back in 2011, together with the International Finance Corporation (IFC), we developed and implemented a “Social and Environmental Risk” (SER) management system in our lending processes. The latter works autonomously and, based on the initial data, categorizes loans according to the SER. If borrowers violate the latter, the bank “withdraws” the loan. This is a clear indicator that Acba values social and environmental protection in Armenia. It is also a motivation for us to continuously develop green finance instruments,” said Arsen Melkonyan, Deputy General Director for Coordination of Business Functions at Acba Bank.
Acba Bank is currently the only financial institution in Armenia that finances community energy saving activities. The bank is consistent and emphasizes sustainable development in both internal and external functions, a prime example of which is Acba Bank’s head office on Admiral Isakov Avenue, which is being built in accordance with LEED Gold standards and will be ready in 2025.Acba Bank is controlled by the Central Bank of Armenia. -0-
