ACBA Credit Agricole MSME Loan



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

29 May 2012



PSD disclosed:

27 Apr 2012

Project Description

The EBRD is considering a loan to Armenia’s ACBA Credit Agricole Bank (ACBA-CA) for expansion of its lending to micro, small and medium-sized enterprised (MSMEs), including in the rural areas, matching the demand for longer-term, local currency funding from local businesses. A aenior A/B loan to ACBA Credit Agricole Bank (ACBA-CA) in the amount of up to US$ 30m equivalent in Armenian Drams (AMD) would consist of the A portion of the loan of up to US$15m equivalent in AMD, and the remaining B portion of the loan of up to US$ 15m equivalent in AMD will be syndicated to other financial institutions.

Transition Impact

The project will provide longer term MSME funding in local currency in a market dominated by foreign currency-denominated loans. It will also demonstrate new ways of financing by showing that Armenian financial institutions can fund themselves through the syndication market.

The Client

ACBA-Credit Agricole is the largest bank in Armenia by total assets and capital. ACBA-CA is a leading agri-finance provider in the country and a significant player in the MSME segment with a well-established branch network and franchise.

EBRD Finance

Up to US$ 15m equivalent in AMD.

Project Cost

Up to US$ 30m equivalent in AMD.

Environmental Impact

Categorised FI. ACBA-CA is an existing Client of the Bank and has adopted an Environmental Policy and Environmental and Social Procedures, which largely satisfy requirements of PR 2 and 9. Required actions to achieve full compliance with the PRS have been communicated to the Client.

Technical Cooperation

Since 2008, ACBA-CA has been benefiting from technical assistance to support its SME lending under Armenian Multi-Bank Financing Framework Facility. The funding is provided by EBRD Early Transition Country Fund (ETCF).

Previously, between 2006 and 2007, TC was provided to the bank for the development of sustainable MSME lending operations with a focus on microenterprises under the Armenia Microlending Programme. The funding was provided by USAID through the US/EBRD SME Financing Facility.

No new technical cooperation is envisioned for this project.

Company Contact

ACBA Credit Agricole Bank
1, Bayron street, Yerevan, Armenia
Phone: +374 10 31 88 88
website :


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

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