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
The Widely Discussed Dvin Crown Project. A New Visibility Platform for Brands Has Emerged in the Heart of YerevanAmeriabank named Most Innovative Digital Bank in Armenia, alongside 9 Global Finance Digital Banking AwardsUnibank and Picsart Academy Host Kids Day for ChildrenUnibank Issues AMD and USD Bonds with Annual Coupon Rates of 10.3% and 6%Artur Hovhannisyan and the Ambassador of Bulgaria to Armenia discussed a number of programs of mutual interest to Armenia and Bulgaria A new and fantastic story was born in the heart of Yerevan—the spirit of the old city at Hayasa Hotel Old YerevanConverse Bank is Lead Sponsor of the BACEE International Banking Conference Ralph Yirikian on the Cost of Digital Transformation at the 13th Regional HR Conference You Can Now Pay with Idram on Glovo: The Long-Awaited Partnership Is Now a RealityRate.Trading: Currency Exchange on a New Digital PlatformIdram's "City of Good Deeds": From Teamwork to Real Charitable Projects Ucom and FAST Bring Together Artificial Intelligence and Green Innovation From Car Selection to Purchase – All in One Place: Ameriabank to Present its Myar.am Platform and Special Offers at Armenian Auto Show IDBank and the “Dekavva Fund” Stand with People from Artsakh Ucom Supports AI-Powered Camera Installation for Nature Conservation Dmitry Ishkhanov Opens the New Steinway’s Concert Life in Pardubice Ucom Fellowship Participants Meet Ralph Yirikian at UcomUnibank Becomes Title Sponsor of Alashkert Football ClubSergey Smbatyan’s Music for Future Foundation and the Lang Lang International Music Foundation Invite Young Pianists to Apply for the Prestigious Lang Lang Young Scholars ProgramUnibank Call Center Now Available 24/7 on Weekdays
All Timeline »
Society

Converse Bank and ADB expand access to MSME and sustainable finance in Armenia

 Converse Bank and Asian Development Bank (ADB) have signed a financing agreement of up to USD 15 million aimed at expanding access to finance for micro, small, and medium-sized enterprises (MSMEs) in Armenia, including women-led businesses, and promoting sustainable investments. 

Under the agreement, ADB will provide up to USD 13 million, while up to USD 2 million is provided by the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA).

The project will support the development of MSMEs in Armenia by promoting investments in renewable energy, energy efficiency, and other sustainable solutions. At least 20% of the financing will be allocated to women-led enterprises, contributing to the expansion of women’s economic participation and development of entrepreneurial opportunities.

The agreement was signed in Yerevan by Grant Akopian, Chief Executive Officer, Chairman of the Management Board of Converse Bank, and Suhail Khan, Director, Private Sector Financial Institutions at ADB.

Suhail Khan, Director of Private Sector, Financial Institutions at ADB noted:

“We are pleased to partner with Converse Bank and the Government of Canada in advancing Armenia's private sector development. Our financing will help strengthen MSMEs, expand opportunities for women entrepreneurs, and accelerate the shift toward sustainable finance. MSMEs are the backbone of Armenia's economy, however, they often face a financing gap. The project will help expand access to finance, support job creation, and strengthen economic resilience.

Grant Akopian, Chief Executive Officer, Chairman of the Management Board of Converse Bank, stated:

"This project is fully aligned with our strategic priorities of supporting MSMEs and advancing green finance. We highly value this cooperation with ADB, which aims to expand access to finance for MSMEs in Armenia and promote sustainable investments.

At the same time, we value the continued development of our partnerships with international financial institutions, which enables us to diversify funding sources and expand financing opportunities in Armenia.

We are confident that this project will have a tangible impact on private sector growth and financial inclusion."

H.E. Andrew Turner, Ambassador of Canada to Armenia, was present at the signing ceremony who remarked:

"This USD 2 million investment from the Climate and Nature Fund for the private sector in Asia, in partnership with the Asian Development Bank and with Converse Bank, offers tremendous opportunities for strengthening Canada-Armenia relations. This is our second such project in Armenia, and we hope it will be the beginning of many more projects "

About Asian Development Bank

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.

About Converse Bank

Converse Bank is a universal bank providing a broad range of banking services in Armenia to individuals, small and medium-sized enterprises, and corporate clients.

The Bank's partnership with ADB commenced in 2025, when Converse Bank joined ADB's technical assistance program "Promoting Green Finance for Sustainable Development," aimed at incorporating sustainable finance principles and best practices.