Climate financing for Armenia’s leading bank
responsAbility and AmeriaBank to team up for green lending activitiesZurich, 22 February 2017 — AmeriaBank, Armenia’s leading corporate and SME bank, has signed a USD 30 million loan agreement with a responsAbility-managed fund focusing on climate financing. The facility is dedicated to financing corporate energy efficiency measures in sectors such as agriculture and industry in Armenia.
The Fund’s technical assistance facility will also be instrumental in developing additional lending opportunities, particularly in the area of energy efficiency.
“Through this cooperation we look forward to further expanding both our outreach and our specific know-how in the area of green lending. We believe that this initiative will influence the development of several important sectors of the Armenian economy through the usage of environmentally-friendly technologies,” explains Artak Hanesyan, Ameriabank CEO.
Luke Franson, Head Green Lending at responsAbility Investments AG, added, “With its outdated equipment, poor housing stock and limited solar penetration, Armenia is a country with a high need for energy investments.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. The high diversification within the bank’s loan portfolio means that there are multiple avenues open for climate-related lending.”
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AmeriaBank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. For its outstanding financial performance, efficient activity and strategic approaches in view of the current economic situation and tough competition, Armenia’s leading bank was named “Bank of the Year in Armenia 2016” by the Banker, a Financial Times publication, winning the award for the fourth time and the second year in a row. In 2016 Ameriabank was recognized as the Best Bank in Armenia by Euromoney and Global Finance.
About responsAbility Investments AG
responsAbility Investments AG is one of the world’s leading asset managers in the field of development investments and offers professionally managed investment solutions to both private and institutional investors. The company supplies debt and equity financing to non-listed firms in emerging economies and developing countries.
responsAbility currently has USD 3.1 billion of assets under management invested in over 550 companies in 97 countries. Founded in 2003, the company is headquartered in Zurich and has local offices in Bangkok, Hong Kong, Lima, Luxembourg, Mumbai, Nairobi, Oslo and Paris. Its shareholders include a number of reputable institutions in the Swiss financial market and its own employees. responsAbility is regulated by the Swiss Financial Market Supervisory Authority FINMA.
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