The European Bank for Reconstruction and Development (EBRD) and ArmSwissBank have concluded a new USD 2 million loan agreement under the Caucasus Energy Efficiency Programme. ArmSwissBank has told ArmInfo that the companies meeting the programme requirements will be able to receive a loan for up to 5 years at 10-11 per annum.  

The source says that the matter concerns the companies engaged in a variety of economy segments such as food processing, agriculture, production, construction, renewable energy, etc. The companies that take measures to introduce energy-conserving and energy-efficient technologies can receive a loan under the programme. They will be provided with free technical support and they can also regain up to 15% of the loan due to the EBRD grants in case they comply with certain requirements. 

This is the fourth loan agreement between ArmSwissBank and EBRD within the cooperation established in 2010. This testifies to successful long-term partnership. Since 2010 the loan resources provided to ArmSwissBank by EBRD have exceeded USD 20 million. In 2010 the loan amount was USD 5 million under the first programme (SME finance). The second programme (trade finance) opened a USD 3 million line of credit. Later, this amount was tripled to USD 9 million. In 2014 the Bank received additional resources of USD 5 million in terms of Armenian dram under the SME finance programme. 

In July 2014, the EBRD awarded a status of a confirming bank to ArmSwissBank.