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
IDBank warns of scam calls impersonating pension fundsA little corner of France in Hrazdan, with the partnership of Converse SME Idram is the general partner of the "Towards Conscious Parenting 2026" annual conference Polytechnic University Graduation Ceremony Held with the Support of Unibank Converse Bank Completes the Placement of EBRD Bonds From Financial Adventures to Great Victories: The 4th Junius Financial Online Tournament Wrapped UpThe Power of One Dram and the Armenian State Symphony Orchestra Conclude the Forest Project Launched in Shirak EBRD to Launch AMD 5 Billion Floating-Rate Bond Offering in Armenia Three-day Financial Literacy Course at the FAST Foundation’s AI Camp: Idram&IDBank Coffee, a Break, and Up to 10% idcoin with Idram&IDBank Ucom Introduces the New uMix 5000 Regional Package: 3 Services for Just AMD 5,000 per Month "Monaco glamour, Vegas energy, Macau prestige - yet uniquely Armenian." Artak Tovmasyan on how Seven Visions is redefining world-class hospitality Travel Without Borders: Ucom Introduces New uTravel Packages Artur Nakhshikyan has joined the Supervisory Board of Unibank "Your smartphone is locked": IDBank warns of cyberextortion that turns your smartphone into a "brick" “From Classroom to Orbit”: With Ucom’s Support, “Space 1.0” Is Being Introduced in 15 Schools Across Armenia AraratBank Reports Growth in its SME Loan Portfolio in 2025 Converse Bank and ADB expand access to MSME and sustainable finance in ArmeniaUnibank and "Vanq" Charity Fund Support Wheelchair Basketball Exhibition Game in Yerevan Armenia’s Largest QR Payment Systems to Collaborate: ArcaQR – IdramNet
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.