ArmInfo.As a result of the cooperation between Acba bank and European Bank for Reconstruction and Development (EBRD) USD 25 million will be directed at the development of Armenia’s economy through financing micro, small and medium enterprises, as well as companies led by women. Financing will be provided via Armenian drams or U.S. dollars.
Acba bank has attracted around USD 7 million from the mentioned funds in the framework of EU4Business-EBRD credit line program. Thanks to this, the bank will help the local companies increase their competitiveness through raising the quality of their products and services, as well as making investments in "green" technologies. European Union will also provide incentive grants and free technical support to sub-borrowers in the framework of EU4Business initiative. As part of the US$ 25 million financial package, US$ 4 million will fall under the Women in Business (WiB) programme that promotes women’s participation in business and it supported by the EU. Frank Hess, Head of Cooperation of the Delegation of the European Union to Armenia, attended the signing ceremony.
“Acba bank and the European Bank for Reconstruction and Development have a rich history of cooperation. We have started our strong partnership with EBRD in 2003. Now we are signing new financing agreements of USD 25 million, and a part of it is in local currency. With this resources Acba bank will finance Armenian SMEs and the business will receive an opportunity to involve necessary technology and equipment corresponding to EU standards. Fostering women entrepreneurship is an important component of the program”, mentioned the CEO of Acba bank Hakob Andreasyan.
“Acba bank is a vital partner for us in Armeina. We are proud for our nearly 20-year-long cooperation. We want to create new opportunities for the development of SMEs in Armenia; it is also important to support the companies lead by women. We will continue supporting the private sector of the economy and fostering the development of Armenia. We are grateful to the European Union for the cooperation, for contributing to the financing process. Apart from all this, I would also like to congratulate Acba Bank for conducting an initial public offering of its shares in the local market. This was very important both for the development of the bank and for the country's economy," said EBRD President Odile Renaud-Basso. ”
Acba bank is one of the leaders of the Armenian banking system, the absolute leader in financing the country's agricultural sector. After the initial public offering (IPO) in 2021, Acba Bank has more than 5,200 shareholders. Thanks to the implementation of the latest digital solutions, as well as the use of new technologies, the bank continuously develops the quantity and quality of the provided financial services. Acba is represented in all regions of Armenia, has 63 branches, and is considered one of the largest employers in the country and in the financial system.
Since 1992 EBRD has invested around EUR 2 billion in 201 programs in Armenia.
Armenian experts, leading Turkish think tanks discuss prospects for expanding cooperation 
Political Scientist: As long as the opposition remains silent, Pashinyan can use Plan B and secure a constitutional majority
US-Iranian memorandum more beneficial for Iran from political and economic perspective - expert 
Political analyst: While Pashinyan pledges peace with Azerbaijan, Baku continues promoting the "Western Azerbaijan" project
Zakharova: Armenia`s pro-EU pivot poses economic security risks to EAEU member states
It`s time for South Caucasus countries to think of South Caucasus as single, unified region - RA premier 
Pashinyan: Armenia and Azerbaijan should leave each other alone
Moscow sees situation with Armenia as attempt to attack Russia-involving integration associations - Russian presidential aid
Zakharova: Armenia views relations with Russia as tool for financially securing reorientation toward EU
The Armenian Minister of Justice and the EU Ambassador discussed visa liberalization issues for Yerevan.
Azerbaijan`s aggressive plans against Armenia became possible in wake of Pashinyan`s decisions on Artsakh - expert 
Zakharova: Russia sent a note of protest to Armenia over the act of vandalism at the "Mother Armenia" memorial in Gyumri
Samvel Karapetyan proposes creating a post-election opposition coalition
Artsakh`s Cultural Heritage Ombudsman called on Moscow to respond to destruction of WWII monuments by Azerbaijan in occupied NKR
Prosecutor General`s Office petitions Central Electoral Commission for criminal prosecution of Robert Kocharyan
Dutch Prime Minister expresses his support for Armenia`s democratic reform and economic diversification agenda
Heritage: It`s time for Armenia`s opposition to present people with legitimate alternative to power
RA Security Council Sec, Assistant to President of Azerbaijan hold negotiations in Dilijan 
CEC Neutralizes PAP: Three Political Forces to Enter Armenian Parliament Following Election Vote
