Proparco's support aims to allow Ameriabank, the leading investment bank in Armenia and the country's oldest financial institution, to lend to projects geared towards renewable energies.
Ameriabank is a bank experiencing rapid growth and is one of Armenia's largest and most stable financial institutions. It is the country's leading investment bank and has been offering a wide range of banking services since 2007. Ameriabank CJSC is today a universal bank - a corporate, investment and retail bank - offering a full range of banking solutions. In terms of taxation, Ameriabank is the largest taxpayer among Armenian banks and the first bank in the country to have assets under management in excess of USD 1bn since the modern banking system was created in 1992.
Ameriabank was set up in 1910: it is Armenia's oldest financial institution and the country's main banking player. Proparco entered into business relations with AmeriaBank in 2013. This new credit line is the second allocated to AmeriaBank by Proparco.
This new USD 20m credit line will allow AmeriaBank to develop its "renewable energy" portfolio and will support growth in the bank's activity in the sectors of social housing, agriculture, health and education. The support to these sectors is fully in line with the mandate of Proparco and AFD.