Armenia Multi-Bank Framework II

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 36647

Status Complete

Location

Armenia

Business Sector

Financial Institutions

Notice Type

Private

Sub-projects

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 36647

Status Complete

Location

Armenia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

23 Mar 2006

Disclosure date

03 Feb 2006

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The USD 40 million framework aims to support the increase of financial intermediation of Armenian banking system and support the economic progress of the country by making much needed medium-term funding available to Armenian micro and small business via credit lines to selected Armenian commercial banks. Specifically, the new framework will include senior debt facilities for mortgage lending and energy efficiency lending, and leasing. In addition the framework would further expand senior debt facilities for Micro and SME lending, as well as convertible debt and equity investments. This USD 40 million multi-bank framework builds on the positive experience of a previous EUR 10 million framework for the Armenian financial sector.

Transition Impact

The facility will support the Armenian financial sector through a combination of debt and equity financing and will promote adherence to best practices in corporate governance, strengthen financial performance and financial discipline. In addition, the facility will provide significant support to the micro, small and medium-sized enterprise sector in Armenia by providing access to medium and long-term financing. The technical assistance to be provided under this operation will support the institutional development and micro and small business lending units of the participating banks and leasing companies.

The Client

Existing and new partner banks as well as leasing companies. The first partner bank under the new facility will be Anelik Bank, an existing client of the Bank.

EBRD Finance

A USD 40 million multi-bank framework facility. The first funding to be provided is proposed to be a USD 2.5 million SME loan to Anelik Bank.

Project Cost

Not applicable.

Environmental Impact

The project will comply with EBRD’s Environmental Procedures for Small and Micro Loans and for Intermediated Financing through Local Banks in respect to MSME components. These include compliance with applicable national environmental, health and safety legislation, adherence to the Environmental Exclusion List, submission of Annual Environmental Report to the Bank and nomination of a senior staff member in charge of the environmental issues.

Technical Cooperation

In 2005 USAID committed USD 1.5 million in TC funding for MSE credit under the original framework. This amount has been supplemented by USD 360,000 (EUR 300,000) from EBRD's multi-donor ETC fund. The total of USD 1.86 million will be used to support the funding provided for MSE lending under both the original framework and the second framework.

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

Our story

How we invest in changing lives

What we offer for businesses

Search