YEREVAN, April 26. /ARKA/. As part of a joint program ‘Energy Efficiency for SMEs’ implemented with the German KfW Bank, ACBA-CREDIT AGRICOLE BANK has unveiled a new loan product designed for small and medium-sized businesses to improve their energy efficiency.

According to a bank’s press release, the loans called "GREEN" are provided in the amount of up to 500 million drams at an interest rate 10.9% and repayment term of 2-5 years. Details about the loan can be found here.

The bank said also if necessary, it will carry out free energy audit and consulting to ensure maximum effectiveness of investments. At the same time, at least 70% of the loan should be used for ensuring energy efficiency.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0-