Yerevan
Tbilisi
Moscow
Paris
Los Angeles
Beijing
English
Հայերեն Русский
Main Timeline Video Share
May the Holiday Warm Hearts: Idram and IDBank Support the Children of Heroes Beneficiaries of the "By Your Side" program at IDBank AraratBank Named Large CSR Company of the Year Idram Joins the Fight Against Food Insecurity Ucom’s Renovated Sales and Service Center in Yerevan Mall Reopens 1% idcoin instead of New Year’s suffering: practical tips Idram Junior Donated Books to Schools Big Christmas Market with Idram, IDBank and idplus Ucom Supports Wildlife Monitoring in Ararat Region IDBank, Idram, and idplus at the Big Christmas Market Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board Ucom and SunChild NGO Install a Solar Plant in Alaverdi Kindergarten
Timeline
Ucom Subscribers can Benefit from 5G Network in More than 40 CountriesAmeriabank's MyInvest Platform Gains Direct Access to AMXTrader Trading System With Support of Ucom New EdPad Educational Tablet Piloted in ArmeniaAraratBank holds Annual General Meeting of ShareholdersIDBank and Henley & Partners Successfully Held the “Invest Beyond Borders: Global Mobility & Private Banking” Event in YerevanMoody's upgrades long-term deposit ratings of Unibank to B1, outlook stableKapan International Music Festival to Take Place Third Time, Welcomes World-Class Artists and Debuts in ArmeniaUcom Launches Special Promotion for Armenian Football Fans Ahead of FIFA Club World Cup 2025Idram is now available on TemuConverse Bank Partners with IFC to Boost Trade Finance CapabilitiesSide by Side: IDBank Launches New Program for women forcibly displaced from ArtsakhWatch Euromedia 24 TV’s 24-hour broadcast on Ucom channel 289 and OVIO (Rostelecom) channel 46How to Enjoy Summer to the FullestUcom Launches 5G Network in Yerevan, Introducing Armenia’s Largest 5G Coverage Health Fund for Children of Armenia is the Beneficiary of "The Power of One Dram" Program in June Team Group, NVIDIA, and Firebird Announce a $500 Million Megaproject to Build a Regional AI Supercomputing Hub "Plain and Simple": Financial Literacy with AraratBankAmeriabank joins TOON EXPO to be held first time in Moscow Idram Participates in Panel Discussion on E-Commerce Development Cooperation The Power of One Dram Concludes Another Program with the 4090 Foundation
All Timeline »
Society

Converse Bank and EBRD sign two loan facilities totaling US$ 8 million to support MSMEs and green projects

Converse Bank and the European Bank for Reconstruction and Development (EBRD) signed two loan agreements totaling US$ 8 million during the EBRD’s Annual Meeting in London.

Of the total amount, the AMD equivalent of US$ 5 million will be allocated to financing investment projects of micro, small, and medium-sized enterprises (MSMEs) in Armenia through the EU4Business–EBRD Credit Line under the EU-supported SME Competitiveness and Inclusion Programme (SMECI). The remaining US$ 3 million will be directed toward financing green projects under the Green Economy Financing Facility (GEFF).

The SMECI Programme aims to support Armenian MSMEs in aligning their operations with best practices in product quality and environmental protection, while also promoting the adoption of green technologies. Under the programme, Converse Bank’s clients will benefit from EU-funded technical assistance and investment incentives in the form of grants of up to 15% of the loan principal.

The programme also includes a special component targeting individuals displaced in Armenia between 2020 and 2023. In addition to the standard grant incentives, additional support will be available to refugee-owned businesses to help them re-establish their entrepreneurial activity, as well as to businesses that offer employment opportunities to displaced individuals.

The GEFF Programme aims to support local businesses by boosting productivity and fostering sustainable economic growth through the adoption of innovative, energy-efficient technologies. Borrowers will also benefit from technical assistance and additional investment incentives to support the implementation of their projects, supported by the Green Climate Fund and Climate Investment Funds (CIF). 

The agreements were signed by Francis Malige, EBRD Managing Director for Financial Institutions, and Andranik Grigoryan, Chief Executive Officer of Converse Bank.

 “We greatly value our long-standing and effective cooperation with the EBRD,” said Mr. Grigoryan. “These new agreements will enable the Bank to significantly expand access to finance for companies operating across various sectors of the Armenian economy, contributing to both business growth and overall economic development.”

Speaking on the programme’s social component, Mr. Grigoryan added:

“I would particularly like to highlight the social impact of the SMECI Programme. Participating clients can benefit from grant support, with enhanced incentives available for companies engaging displaced individuals.”

Francis Malige also welcomed the continued partnership with Converse Bank, stating:

“The EBRD's partnership with Converse Bank marks a significant step in enhancing the competitiveness of Armenia’s micro, small, and medium-sized enterprises. Backed by the support from our generous donors, this initiative aims to promote low-carbon practices and climate resilience. The funding is allocated to support investments in innovative green technologies, aligning them with EU standards. The EBRD will also provide incentive grants to MSMEs led by displaced individuals. This holistic approach fosters not only economic integration but also long-term benefits for the community. ”

The programmes are expected to have a significant social and environmental impact by promoting the economic integration of displaced individuals and supporting green investments that contribute to the reduction of carbon emissions.

Converse Bank is regulated by the Central Bank of RA.