The European Bank for Reconstruction and Development has launched a USD20 million financing facility that will invest in projects on renewable energy and energy efficiency in Armenia.
The Armenian Sustainable Energy Financing Facility aims to boost the competitiveness of private business in the country. It will invest in local commercial banks to help them meet the increasing demand for energy efficiency loans among private businesses. An additional USD5 million is expected to be added to the facility’s capital in support of residential energy efficiency projects, according to an EBRD news release.
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