{"id":68045,"date":"2013-12-16T11:52:21","date_gmt":"2013-12-16T11:52:21","guid":{"rendered":"https:\/\/armbanks.am\/2013\/12\/16\/239965\/"},"modified":"2024-12-15T13:08:54","modified_gmt":"2024-12-15T13:08:54","slug":"green-for-growth-fund-to-provide-5-million-euro-loan-to-armenian-acba-credit-agricole-bank","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2013\/12\/16\/68045\/","title":{"rendered":"Green for growth fund to provide 5 million euro loan to Armenian ACBA-CREDIT AGRICOLE BANK"},"content":{"rendered":"

YEREVAN, December 16. \/ ARKA \/.<\/strong> The Green for Growth Fund and Armenian ACBA-CR\u00c9DIT AGRICOLE BANK signed a EUR 5 million senior loan agreement. This credit facility is aimed at financing retail and business clients, predominantly SMEs, the bank said in a press release.<\/p>\n

One of the largest banks in Armenia by total assets, ACBA-CR\u00c9DIT AGRICOLE BANK\u00a0\u00a0is a market leader in agricultural finance, with excellent market know-how and a strong presence in rural areas. The Bank sees a major business opportunity in expanding into EE finance to meet growing demand for financing in this area. The EE measures to be financed range from improvements to housing envelopes for retail clients to replacing inefficient and outdated machinery and equipment for business clients.<\/p>\n

\u201cAs\u00a0ACBA-CR\u00c9DIT AGRICOLE BANK enjoys a strong market position and has an extensive rural outreach, this partnership is an important step forward in promoting energy efficiency savings in Armenia,\u201d said Christopher Knowles, Chairman of the Green for Growth Fund, Southeast Europe.
\n\u201cWe are very pleased to partner with ACBA-CR\u00c9DIT AGRICOLE BANK\u00a0\u00a0to finance and foster investments in sustainable energy efficiency projects.\u201d<\/p>\n

\u201cWe are happy to start our cooperation with the Green for Growth Fund and highly appreciate their mandate in financing energy efficiency and renewable energy projects,\u201d said Stepan Gishyan, CEO of ACBA-CR\u00c9DIT AGRICOLE BANK\u00a0.<\/p>\n

\u201cThis project will enhance our capacities in targeting and financing sustainable energy projects of our clients\u201d<\/p>\n

The Green for Growth Fund, Southeast Europe (GGF) is dedicated to enhancing energy efficiency and fostering the use of renewable energy sources in Southeast Europe and Turkey as well as in the nearby European Eastern Neighbourhood region comprised of Armenia, Azerbaijan, Georgia, Moldova and Ukraine. The GGF provides refinancing to financial institutions for on-lending to enterprises and private households seeking to finance energy efficiency projects.<\/p>\n

The GGF also invests directly in small to medium-scale renewable energy projects. To maximize the impact of the Fund\u2019s investment activities, the GGF\u2019s Technical Assistance Facility offers capacity building support to local financial institutions and partners.<\/p>\n

ACBA-CREDIT AGRICOLE BANK is a key player in the Armenian banking system ranked first in terms of capital and 3rd in terms of assets as of 3Q 2013. The Bank\u2019s primary strategic focus is on providing financial services to micro, small and medium enterprises (MSMEs) with a particular focus on rural areas.<\/p>\n

The Company was founded in March 1996. In 2006 Credit Agricole acquired a 28% stake in ACBA\u2019s capital thus becoming its largest shareholder. The Bank is owned by Credit Agricole (28%), a number of agricultural cooperatives (totaling 71%) and the bank\u2019s management (1%). As of November 2013, ACBA had total assets of USD 657 million and loan portfolio of USD 388 million. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

The Green for Growth Fund and Armenian ACBA-CR\u00c9DIT AGRICOLE BANK signed a EUR 5 million senior loan agreement<\/p>\n","protected":false},"author":1,"featured_media":158063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15909,15837,12294,505],"class_list":{"0":"post-68045","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-acba-credit-agricole-bank-2","10":"tag-armenia-2","11":"tag-loan","12":"tag-505"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/68045","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=68045"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/68045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/158063"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=68045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=68045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=68045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}