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Signature(s)

Amount
€ 50,500,000
Countries
Sector(s)
Georgia : € 10,000,000
Azerbaijan : € 10,000,000
Armenia : € 30,500,000
Credit lines : € 50,500,000
Signature date(s)
12/11/2024 : € 2,500,000
29/12/2022 : € 10,000,000
4/03/2024 : € 10,000,000
17/07/2024 : € 12,000,000
20/09/2024 : € 16,000,000
Link to source

Summary sheet

Release date
17 October 2022
Status
Reference
Signed | 29/12/2022
20220067
Project name
Promoter - financial intermediary
MSME OUTREACH INITIATIVE - CAUCASUS
ACCEPTABLE BANK(S),ARMSWISSBANK CJSC,CREDO BANK JSC,EVOCABANK CJSC,FARM CREDIT ARMENIA UCO CC,JSC LIBERTY BANK,JSC MFO CRYSTAL,JSC TERABANK,OJSC BANK RESPUBLIKA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 100 million
not applicable
Location
Sector(s)
Description
Objectives

Funding to smaller financial intermediaries in countries of the Southern Caucasus to reach out to micro, small and medium enterprises (MSMEs) that currently face difficulties to access finance.

The aim of the project is to enhance access to finance for the target Armenian beneficiaries and contribute to their financial inclusion, supporting especially micro and small businesses owned or managed by women, in line with the 2X Challenge Criteria. As such, the operation is expected to achieve a high development impact in Armenia.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Comments

Please proceed to generate the accompanying letter to the client for his signature authorising the Web publication.

Milestone
Under appraisal
Approved
Signed
24 November 2022
29 December 2022
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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