Armenian energy efficiency gets $30m boost

Armenia’s largest bank has signed a $30 million (£24.14m) loan agreement to help finance energy efficiency measures. AmeriaBank has signed the deal with responsAbility Investments, a Swiss finance company. Specifically, the […]

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By Jonny Bairstow

Armenia’s largest bank has signed a $30 million (£24.14m) loan agreement to help finance energy efficiency measures.

AmeriaBank has signed the deal with responsAbility Investments, a Swiss finance company.

Specifically, the money will go to one of the firm’s managed funds focusing on climate financing.

The move hopes to support corporate energy efficiency measures in sectors such as agriculture and industry.

Luke Franson, Head of Green Lending at responsAbility Investments, said: “With its outdated equipment, poor housing stock and limited solar penetration, Armenia is a country with a high need for energy investments.

“Given its leading market position, AmeriaBank is ideally placed to execute these investments with SMEs and corporates.”