$6m green finance package for Armenia announced by EBRD and GCF

Armenia’s private sector will be able to take up affordable loans to install solar and other green technology thanks to a $6 million by the European Bank for Reconstruction and Development and the Green Climate Fund. 

The financing is being provided to Inecobank under the EBRD’s Green Economy Financing Facility (GEFF) for lending to local enterprises for investment in climate-change mitigation and adaptation technologies and services. The GEFF includes a comprehensive technical advisory package, co-financed by the GCF, which helps to originate and verify green investment opportunities. At the end of 2020, 95 MW of solar capacities were installed in Armenia according to IRENA estimates.

intellinews.com, 14 April 2021