IFC provides $200 mln loan to Armenia's Ameriabank for climate projects, small business lending

YEREVAN. Jan 14 (Interfax) - International Finance Corporation (IFC) has provided a $200 million loan to Ameriabank, one of the largest banks in Armenia, Ameriabank's press service said.

"Ameriabank has signed a long-term loan agreement for $200 million with the International Finance Corporation. The funds will be allocated to finance initiatives to prevent climate change, and to support micro-, small- and medium-sized enterprises (MSMEs), including women-owned MSMEs," the press service said.

The agreement is notably the largest ever signed between IFC and a financial institution in Armenia.

"Half of the funding will be allocated to climate finance projects, a quarter to MSMEs, and another quarter to women-led MSMEs. The partnership and transaction reflects Ameriabank's commitment to promoting sustainable development and transformative changes as underpinned by the bank's leading position as the largest financial institution in Armenia and its impressive track record in green finance," according to the press release.

"This investment is expected to create thousands of jobs in the coming years and significantly reduce annual greenhouse gas emissions by approximately 40,000 tonnes of CO2 equivalent," the financial institution said.

Ameriabank has been operating since October 1996 and is the largest creditor to the Armenian economy. It is a universal bank providing investment, corporate and retail banking services.

In April 2024, Ameriabank announced the completion of the deal on its purchase by the Bank of Georgia group and the change in shareholders. The new owners were Georgia Group PLC (60%) and Bank of Georgia JSC (30%). The share of the European Bank for Reconstruction and Development (EBRD) decreased to 10%. The shareholders had been Imast Group (CY) Limited at 48.82%, the EBRD at 17.71%, Asian Development Bank at 13.91%, ESPS Holding Limited at 12.05%, and Ameriabank.