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    Signature(s)

    Amount
    € 48,000,000
    Countries
    Sector(s)
    Georgia : € 10,000,000
    Azerbaijan : € 10,000,000
    Armenia : € 28,000,000
    Credit lines : € 48,000,000
    Signature date(s)
    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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