Release date: 26 June 2024
Promoter – Financial Intermediary
INECOBANK CJSCLocation
Description
The facility consists of a loan to Inecobank to support micro, small and medium sized enterprises (MSMEs) and Midcaps in Armenia.
Objectives
The aim is to enhance access to finance to the target beneficiaries implementing eligible projects in the country.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Inecobank should take all requisite measures to ensure that the procedures carried out by the final beneficiaries comply with the national legislation, the EIB's Environmental and Social Standards as well as the international treaties and conventions signed and ratified by or otherwise applicable and binding in Armenia.
Procurement
Inecobank should take all requisite measures to ensure that all the procurement procedures carried out by the final beneficiaries comply with the national legislation, in line with the EIB's Guide to Procurement.
Status
Approved - 17/05/2024
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).