Senior unsecured loan of up to USD 4 million under the GCF GEFF Regional Framework in Armenia ("GEFF Programme"), with 75% to be provided out of EBRD resources and 25% - by Green Climate Fund ("GCF"). The maturity will be 4 years, repayable in 5 equal semi-annual instalments following a grace period of 2 years.
The loan will contribute to the objective of building a green economy in Armenia by on-lending to private sector sub-borrowers for investments into climate change mitigation and adaptation technologies and services in line with GCF GEFF Policy Statement.
ETI score: 75
Facilitation of the accelerated market penetration by climate technologies, particularly focusing on promotion of renewable energy/energy efficiency/climate resilient technologies including solar PV, solar thermal, geothermal heat pumps and biogas technologies.
ArmSwissBank (ASB) is the 6th largest bank in Armenia (among 17 banks) with a market share by assets of c. 5.8% as of end-2020.
EBRD Finance Summary
Total Project Cost
Financing structure: EBRD offers financing that is not available in the market (e.g. a longer grace period and tenor than the market average) from commercial sources on reasonable terms and conditions, which are necessary to structure the project.
Innovative financing structures and/or instruments: EBRD offers an innovative green finance instrument that integrates aspects such as upfront cost and relatively longer payback period of green technologies, climate and environmental, social and governance standards and/or climate and ESG risks considerations into the financing structure.
Environmental and Social Summary
Categorised FI (ESP 2019): ASB will be required to continue to comply with PRs 2, 4 & 9, implement the applicable environmental and social procedures and submit annual ennvironmental and social reports to the Bank.
Technical Cooperation and Grant Financing
TC: The project will be supported by a comprehensive TC package funded by the EBRD SSF and GCF. The objective of the TC is to assist ASB with capacity building, implementation and monitoring of the programme.
- Sub-projects will be eligible for incentive grants (up to 20% of the lower of the investment cost or the respective disbursed sub-loan amount).
- Grant equivalent of GCF concessional funding: GCF's pricing will be discounted at 80% of the EBRD's in order to support the GEFF's overall pricing.
Company Contact Information
(+374 60) 757-000
(+374 10) 52-95-91
10 Vazgen Sargsyan, Yerevan 0010, Republic of Armenia
PSD last updated
30 Jun 2021
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
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