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Eligibility criteria

All small and medium-sized enterprises (SMEs)* as well as middle capitalisation companies (mid-caps)** primarily in the sectors of agricultural production, agro-processing and tourism are eligible to apply for an EIB sub-loan, regardless of the type of business and the location of the business activities within the Republic of Armenia.

Primary agricultural production

Food processing

Tourism industry


The service is available to enterprises planning to invest in and focus on

  • local private sector development
  • development of social and economic infrastructure, including transport, energy, environmental infrastructure, and information and communication technology
  • climate change mitigation and adaptation

Accordingly, the “EIB Loans for SMEs” programme targets eligible investments (sub-projects) developed by eligible private sector SMEs and mid-caps and facilitates investments in fixed assets and permanent working capital.

The EIB sub-loans may be used for a wide range of agricultural and tourism projects as well as associated investment purposes:

Agriculture sector

Tourism sector

In the implementation and operation of sub-projects, final beneficiaries will be required to comply with applicable national and EU legislation, as appropriate.


*Armenian definition of SMEs:
- Number of employees: ≤ 250
- Annual turnover: ≤ AMD 1.5bn
- Annual balance sheet: ≤ AMD 1.0bn

**Middle capitalisation companies:
There is no common EU and/or Armenian definition of mid-caps. While SMEs are defined as having fewer than 250 employees, mid-caps are broadly said to have between 250 and 3,000 employees.

EIBCBAGAF
International Cooperation and DevelopmentDelegation of the EU to ArmeniaIPC

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