Ameriabank CJSC and FMO (The Dutch development bank) signed a €40 million loan agreement. The 5-year term facility will be used to finance renewable energy and energy efficiency projects in Armenia, as well as to provide funding for young and female entrepreneurs in the country.

“This is another remarkable achievement which we celebrate with our long-standing partner FMO. The renewable energy financing will further promote sustainable development of the clean energy sector while ensuring efficient use of Armenian energy amongst the enterprises and population”, - commented Ara Sargsyan, Head Corporate Finance Unit of Ameriabank.

Cooperation between FMO and Ameriabank dates back to 2009 when FMO first financed Ameriabank in support of SMEs and RE projects in Armenia.

FMO's Chief Investment Officer Linda Broekhuizen commented: "FMO is proud of its strong and successful relationship with Ameriabank, supporting the further economic development of Armenia. This new loan facility will enable Ameriabank to continue its growth and helps support renewable energy generation and job creation led by young and female entrepreneurs."