{"id":132982,"date":"2021-04-13T15:03:34","date_gmt":"2021-04-13T15:03:34","guid":{"rendered":"https:\/\/armbanks.am\/2021\/04\/13\/249776\/"},"modified":"2024-12-15T13:44:00","modified_gmt":"2024-12-15T13:44:00","slug":"ebrd-and-gcf-expand-green-finance-in-armenia","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/04\/13\/132982\/","title":{"rendered":"EBRD and GCF expand green finance in Armenia"},"content":{"rendered":"\n

YEREVAN, April 13.\/ARKA\/ . <\/strong>Armenia’s\u00a0\u00a0private sector will benefit from new resources for green financing thanks to a US$ 6 million financial package put together by the European Bank for Reconstruction (EBRD) and the\u00a0Green Climate Fund<\/a>\u00a0(GCF), which is contributing up to US$ 1.5 million in concessional financing. The loan is expected to facilitate the country\u2019s transition to a more sustainable, low-carbon and climate-resilient economy, EBRD said in a press release.<\/p>\n\n\n\n

The financing is being provided to Inecobank<\/a> under the EBRD\u2019s Green Economy Financing Facility<\/a> (GEFF) for lending to local enterprises for investment in climate-change mitigation and adaptation technologies and services. Eligible projects include investments in technologies such as thermal insulation, photovoltaic solar panels, geothermal heat pumps and water-efficient irrigation systems.<\/p>\n\n\n\n

The GEFF includes a comprehensive technical advisory package, co-financed by the GCF, which helps to originate and verify green investment opportunities. Companies interested in securing a loan for green technologies can also avail of investment incentives funded by the Climate Investment Funds<\/a> (CIF). Businesses can identify green technologies commonly available in Armenia using the GEFF Technology Selector<\/a>.<\/p>\n\n\n\n

Dimitri Gvindadze, EBRD Head of Armenia, said: \u201cImproving access to green finance is one of our key priorities in Armenia. Inecobank\u2019s solid client base helps to better reach private-sector players both in Yerevan and the regions. We are committed to helping firms and residents reduce their energy consumption and thus become more competitive.\u201d<\/p>\n\n\n\n

Inecobank is one of the leading banks in Armenia, offering a full range of banking services to individual customers and small and medium-sized enterprises (SMEs). Today, the bank serves more than 500,000 customers and has more than 250,000 online users. Inecobank has developed and delivered industry-leading digital banking solutions with a view to introducing an entirely new culture of banking services to Armenia.<\/p>\n\n\n\n

\u201cWe are honoured to continue our fruitful collaboration with the EBRD and once again confirm our commitment to the promotion of green financing in Armenia,\u201d said Aren Naltakyan, CEO of Inecobank.<\/p>\n\n\n\n

The GEFF programme is helping to build a green economy in Armenia by supporting the expansion of green finance in accordance with the EBRD Green Economy Transition<\/a> (GET) approach.<\/p>\n\n\n\n

The EBRD is a leading institutional investor in Armenia. It has invested more than \u20ac1.5 billion in 187 projects in the country, supporting private-sector development and the transition to a sustainable, green economy.<\/p>\n\n\n\n

Since 2006, the EBRD has committed more than \u20ac36 billion to projects in the regions in which it invests, furthering the transition to the green economy. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

Armenia’s private sector will benefit from new resources for green financing thanks to a US$ 6 million financial package put together by the European Bank for Reconstruction (EBRD) and the Green Climate Fund (GCF), which is contributing up to US$ 1.5 million in concessional financing. The loan is expected to facilitate the country\u2019s transition to a more sustainable, low-carbon and climate-resilient economy, EBRD said in a press release<\/p>\n","protected":false},"author":1,"featured_media":171912,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12174,14814,15272,15416],"class_list":{"0":"post-132982","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-ebrd","11":"tag-gcf","12":"tag-green-finance","13":"tag-15416"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/132982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=132982"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/132982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/171912"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=132982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=132982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=132982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}