Supporting the expansion of sustainable lending to SMEs in agricultural and tourism sectors
For several years now, the European Investment Bank (EIB) has promoted the development of small and medium-sized businesses in Armenia.
The “EIB Loans for SMEs” seek to maximise the environmental benefits and to minimise the environmental costs of the projects financed. Sub-projects must be in compliance with environmental and social standards.
The “EIB Loans for SMEs” prioritise lending to sub-projects supporting climate action. The investments should make a significant level to climate change mitigation and adaptation.
Loans
The EIB sub-loan is a targeted way of supporting the efforts of Armenian SMEs/mid-caps to develop environmentally friendly and socially responsible businesses.
Projects
Since the start of autumn 2015, the EIB has already financed a variety of investment projects. The sub-projects cover activities from planting vineyards, cultivating vegetables, or producing juice/dairy items in the agriculture sector to building or renovating tourist accommodations, developing travel agency activities, or financing food and beverage service activities in the tourism sector. Real cases funded under the programme include the following three businesses:
155
PROJECTS FINANCED
€ 90 million
TOTAL INVESTMENTS
17
PARTNER INSTITUTIONS
600
TRAINED BANK STAFF
TECHNICAL ASSISTANCE
Supporting final beneficiaries and financial intermediaries
The “EIB Loans for SMEs” also includes technical assistance and expertise to provide support for the design and implementation of the programme as well as to stimulate and support investments.
Events
As part of the “EIB Loans for SMEs” activities, targeted trainings and workshops for final beneficiaries are held on an ongoing basis in all regions of Armenia to educate SMEs/mid-caps on improving their business operations.
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Workshops for women-led SMEs
In the workshops targeting agricultural and tourism SMEs run by women, we cover topics such as financial literacy, entrepreneurship and… Read More -
Trainings for the agriculture sector
During the trainings, we cover topics such as financial literacy, modern agricultural technologies, business planning, contract management, etc. Read More -
Seminars for the tourism sector
During the workshops, we give a detailed overview of the main categories of tourists visiting Armenia, focusing on their characteristics,… Read More -
Round table forum discussions
At periodically conducted round table forum discussions, we share experience and gain valuable insights and new ideas for the implementation… Read More
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50
WORKSHOPS CONDUCTED
1,030
FINAL BENEFICIARIES TRAINED
260
WOMEN-LED SMES TRAINED
100%
REGIONAL COVERAGE