YEREVAN, Jan. 14 (Xinhua) -- The International Finance Corporation (IFC) extended a landmark loan of 200 million U.S. dollars to Ameriabank, one of Armenia's biggest banks, marking its largest-ever investment in the country's financial sector, news.am reported on Tuesday.
The funding will drive climate finance initiatives and support micro, small, and medium-sized enterprises (MSMEs), including women-led businesses.
As part of the agreement, half of the financing will target climate-related projects, while the remainder will be split equally between MSMEs and women entrepreneurs. The record-breaking loan underscores IFC's commitment to fostering sustainable development and economic growth in Armenia.
"This long-term credit agreement is the largest of its kind ever signed between IFC and a financial institution in Armenia," said Artak Anesyan, the bank's CEO. "Beyond its scale, the agreement stands out for its purpose: supporting business initiatives and services that address climate challenges, empower women entrepreneurs, and contribute to a sustainable future for Armenia."
The investment is projected to create thousands of jobs and reduce annual greenhouse gas emissions by approximately 40,000 tons of CO2 equivalent, furthering Armenia's transition to a green economy.
Marcelo Castellanos, IFC's senior regional industry manager, emphasized the partnership's significance: "This agreement highlights IFC's strategy to scale private sector solutions for sustainable development."
In Armenia, IFC aims to address infrastructure gaps and reduce carbon emissions through investments in renewable energy and climate adaptation. Moreover, IFC works to improve access to finance for MSMEs and collaborates with financial institutions to promote the development of a greener economy.
