USD 14.5 million attraction Initiated by "Symbiotics" Investment Company

Symbiotics, the leading market access platform for impact investing, has arranged a USD 14.5 million Sustainability Bond for ARARATBANK.

Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), has made a USD 5 million subscription to this Sustainability Bond. With their support we trust to issue more Green and Sustainable bonds in the coming months and convince European investors to increase their investments in sustainable finance.

The proceeds of the Sustainability Bond will finance both Social and Green eligible loans. Microenterprises and SMEs will benefit from the Social loans to encourage employment creation and business activity in the country. While Green loans will be dedicated to the promotion of renewable energy, energy efficiency, green buildings and clean transportation.

“With this Sustainability Bond issuance, ARARATBANK showcases its commitment to sustainable finance and promotion of environmentally and socially beneficial loans. Sustainability bond proceeds will be used to finance projects that support job creation and economic growth, as well as contribute to combating climate change,” said Daniel Schriber, Head of Investments of Symbiotics.

“By adopting a long-term strategy for sustainable development, ARARATBANK highlights favorable financing and investments to create a prosperous, sustainable future for society and businesses, prioritizing the financing of projects that will make cities and communities environmentally safe and sound in the long run,” said Mher Ananyan, Chairman of the Executive Board of ARARATBANK.

“We are pleased to be assisting a recognized player like Symbiotics with the development of this innovative and inclusive Sustainability Bond for ARARATBANK in Armenia. We need more green and social bonds for emerging markets. This project is fully in line with Proparco’s priorities and climate strategy”, said Gregory Clemente, Chief Executive Officer of Proparco.

This bond is issued via Symbiotics’ sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainability, Social and Green Bond Framework, which was certified in December 2019 by DNV GL. The Sustainability Bond has been listed on the Luxembourg Green Exchange within the Sustainability Bond section. The Sustainability Bond proceeds have been fully used towards a 4-year, senior unsecured loan to ARARATBANK.

Link to: Sustainability Social and Green Bond framework for Symbiotics