Ameriabank has partnered with the European Investment Bank (EIB Global) to secure €105 million in funding, marking the largest direct loan from EIB Global to a bank in the South Caucasus region. This significant financing highlights Ameriabank’s and EIB’s shared commitment to fostering economic development through private sector growth and advancing Armenia’s green transition.
The funds will enable Ameriabank to provide accessible and affordable loans to micro, small, and medium-sized enterprises (MSMEs) and mid-cap companies, supporting their investments in growth, competitiveness, and sustainability.
According to EIB estimates, this initiative is expected to benefit approximately 400 MSMEs and sustain over 15,000 jobs, further reinforcing Ameriabank’s dedication to empowering local businesses and strengthening Armenia’s economy.
Strategic Partnership for Economic Growth
Hovhannes Toroyan, Ameriabank’s Chief Financial Officer, expressed his enthusiasm for the collaboration, stating: “We are pleased to partner with the European Investment Bank (EIB Global) to reaffirm our commitment to supporting micro, small, and medium-sized enterprises (MSMEs) in Armenia. This collaboration will provide local businesses with affordable funding, enabling them to reach their full potential and contribute significantly to Armenia’s economic growth. As the largest lender in the Armenian economy with a solid portfolio in green and sustainable financing, we are confident in our ability to foster a more sustainable and inclusive economic future for Armenia.”
A portion of the financing will be made available in Armenian drams to safeguard MSMEs against currency risks. The European Union (EU) is supporting the transaction with grant funding, ensuring an affordable interest rate on the loan. This initiative aligns with the EU’s Economic and Investment Plan for the Eastern Partnership, which prioritizes MSME support to build a sustainable, innovative, and competitive economy in Armenia.
Strengthening Armenia’s Private Sector
Teresa CzerwiÅ„ska, EIB Vice President overseeing operations in Armenia, emphasized the importance of the agreement: “We are delighted to partner with Ameriabank to strengthen Armenia’s private sector and promote sustainable economic growth. This operation is a milestone, constituting a significant step forward in our commitment to fostering sustainable development and economic resilience, in line with both the European Union and Armenia’s priorities.”
Ambassador Vassilis Maragos, Head of the EU Delegation to Armenia, reaffirmed the EU’s commitment: “With this support to the Armenian MSMEs, we are delivering on our commitment to further support Armenian private sector and contribute to addressing the pressing need for access to finance including in local currency. This assistance is part of the European Investment Plan (EIP) for Armenia which is a comprehensive initiative aimed at fostering economic growth, sustainable development, and prosperity in the country. We will further build on these efforts by delivering in total €270 million under the Resilience and Growth Plan in the period 2024-2027. A large part of it will be dedicated to business development, targeted at tech, start-ups and new export opportunities, which will support Armenia’s economic diversification.”
Ameriabank’s Commitment to Sustainable Financing
This transaction follows Ameriabank’s recent $200 million financing agreement with the International Finance Corporation (IFC), furthering the bank’s efforts to attract international funding aimed at Armenia’s sustainable economic growth.
Ameriabank is the largest lender in Armenia’s economy, with a total gross loan portfolio of AMD 1.3 trillion, including an SME gross portfolio of AMD 270 billion, based on 2024 year-end results. To date, the bank has secured approximately USD 1.4 billion in financing from various international financial institutions, directing these funds toward Armenia’s vital economic sectors. Since 2009, Ameriabank has financed energy efficiency and renewable energy projects worth over USD 250 million with support from international financial institutions and impact investors.
About Ameriabank
Ameriabank is a leading financial institution in Armenia and a major contributor to the country’s economy, with assets totaling approximately AMD 1.9 trillion. The bank has adopted a customer-focused approach to ensure service quality and a modern banking experience in an evolving digital landscape. Ameriabank remains committed to responsible business practices and advancing Armenia’s transition toward a sustainable future. Ameriabank is supervised by the Central Bank of Armenia.
About EIB Global
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB Global is the EIB Group’s specialized arm focused on maximizing the impact of international partnerships and development finance. As a key partner of the Global Gateway initiative, EIB Global aims to support €100 billion in investments by the end of 2027″one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society, bringing the EIB Group closer to people, businesses, and institutions worldwide.
