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Ameriabank CJSC and FMO (The Dutch development bank) signed a EUR 40 M loan agreement, the Bank reported in a press statement. This 5-year term facility will be dedicated to finance renewable energy and energy efficiency projects in Armenia, as well as financing 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."

It is noted that FMO is the Dutch development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a more than 45-year proven track-record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.2 billion spanning over 82 countries, FMO is one of the larger bilateral private sector developments banks globally. For more information: please visit www.fmo.nl