Armenian Ameriabank plans to distribute $25 million of loans to finance renewable energy projects

05.03.2010 18:37
Armenian Ameriabank plans to distribute $25 million of loans to finance renewable energy projects

YEREVAN, March 5, /ARKA/. Armenian Ameriabank plans to distribute $25 million of loans in the first half of 2010 within the frameworks of renewable energy projects signed with International Financial Corporation (IFC), FMO and DEG, Artak Hanesyan, Ameribank CEO told Thursday.

‘We signed two agreements on renewable energy, worth $15 million and $5 million. We have already approved $10 million worth loans to finance these projects and another projects worth $6 million are under consideration,’ he said.

Artak Hanesyan added also that Ameriabank was negotiating a loan with the EBRD which he said would be channeled into renewable energy projects.

FMO is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. FMO's investment portfolio is €3.4 billion and it is one of the largest bilateral development banks worldwide.

DEG – Deutsche Investitions und Entwicklungsgesellschaft MBH (KfW banking group), has been financing and structuring the investments of private enterprises in developing and transition countries for more than 45 years. -0-


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