YEREVAN, July 26. /ARKA/. As a result of cooperation between Acba bank, ACBA Leasing and the Green Economy Financing Facilities (GEFF) Program of the European Bank for Reconstruction and Development (EBRD), some $5 million will be distributed for the development of the ‘green economy’ in Armenia through financing business projects in such areas as energy efficiency, climate change adaptation and renewable energy sources, Acba bank said today.

It said the attracted funds will be provided both in Armenian drams and US dollars. It said thanks to the GEFF Program, enterprises in Armenia will be able to make their business projects even more efficient with solar photovoltaic power plants, energy efficient transport and construction equipment, engines and pumps, production technologies and technologies with an efficiency of over 1,500.

‘Green investments in Armenia have great development potential. Thanks to this cooperation, we will have the opportunity to support the development of these areas by larger financial support,” said Aghasi Gasparyan, CEO of ACBA Leasing.

Andro Butkhuzi, Deputy Project Manager at GEFF Armenia, noted that GEFF prioritizes the funding of highly efficient technologies and projects.

"And since such investments are targeted and require an integrated approach, we are working with our partner financial institutions to prepare and inform our clients. One such example was the recent joint event with Acba and ACBA Leasing, which was organized specifically for the construction sector,’ said Butkhuzi.

The leasing terms offered in the framework of cooperation are here. The GEFF Green Technologies Catalog is here.

In 2019, ACBA Leasing joined the first phase of the GEFF Program and financed the generation of clean energy of 3.6 GWh / year. As a result, 1,864 tons less of carbon dioxide will be emitted a year. -0-