ARARATBANK has expanded the scope of Green Loan beneficiaries

ARARATBANK has launched the second stage of energy efficient lending since 2016. In the first stage of Green Loan project, a total of AMD 762,238,334 was disbursed to 12 companies for energy efficient investments. If this type of loan was disbursed exclusively to companies involved in trade, production, services, transportation and hotel sector in 2016-2018, then by the end of 2019 the bank expanded its lending sectors to households and individual farmers involved in agricultural sector within the framework of Green lending. The loan is disbursed in AMD for an amount of AMD 1.000.000-500.000.000. The annual nominal interest rate of the loan is 10%, while the maturity is up to 5 years. It is noteworthy that at this stage the loan amount for the investment projects, having a significant positive impact on the Armenian economy, can be up to AMD 1.000.000.000.

The target range of the loan was also expanded to the replenishment of working (energy efficient) funds, energy services, and agriculture in terms of acquisition of agricultural machinery, and greenhouse economy along with capital investments and acquisition of fixed assets.  

By the way, no upfront fee will be charged for study of loan application as well as compilation and service of a loan file. As a reminder, Green lending is carried out within the framework of KfW Energy Efficiency Programme for SMEs.