Acba bank attracts equivalent of $6.75 million to finance ‘green’ projects in Armenia

04.11.2021 18:09
Acba bank attracts equivalent of $6.75 million to finance ‘green’ projects in Armenia

YEREVAN, November 4. /ARKA/. Acba bank has attracted funds from Symbiotics, a leading market access platform for impact investing, dedicated to financing micro- small and medium enterprises, equivalent to $6.75 million, the bank's press service reported today.

The bank said it will channel the attracted funds into financing “green" farms, as well as into the development of micro, small and medium-sized enterprises in Armenia.

The attracted funds are provided in Armenia’s national currency, the dram.

The funds attracted as a result of cooperation between Acba bank and Symbiotics will contribute to the stable development of renewable energy, energy efficiency programs and the agricultural sector, as well as the economy as a whole, the bank said.

Acba bank was established in 1996 and is currently one of the largest banks in Armenia. The bank is represented in the capital Yerevan and in all regions of the country, running 63 branches and employing about 1500-member staff.

The bank has been financing the real sector of the Armenian economy for 25 years contributing to the development of the country.

Acba bank is supervised by the Central Bank of Armenia. -0-


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