The Green for Growth Fund, Southeast Europe (GGF) issued a USD 2 million loan to ACBA Leasing to promote energy efficiency (EE) investments in Armenia. This is the second GGF loan to ACBA Leasing dedicated to building a strong EE lease financing portfolio. The GGF estimates that EE leases financed through this new credit facility will yield primary energy savings and emission reductions of 2,250 MWh and 370 tons of carbon dioxide per annum, respectively.
“ACBA Leasing has consistently proved a strong partner to the GGF in reaching out to a large customer base that seeks alternative financing for EE measures. In addition, the GGF technical assistance facility further supports ACBA Leasing’s commitment to EE finance by providing valuable assistance with energy audits as well as marketing and awareness-raising campaigns. Working together with ACBA Leasing will considerably enhance the impact GGF is able to achieve in Armenia,” said Christopher Knowles, Chairman of the Green for Growth Fund, Southeast Europe. "We trust the newly established cooperation with GGF will continue and that many successful joint projects will result for the benefit of our SME clients in Armenia. The GGF loan will be used to finance energy efficient equipment required by ACBA Leasing’s clients, i.e. small and medium entrepreneurs as well as larger clients, to enhance the EE sector in Armenia. ACBA Leasing has identified potential levers for EE lending business in financing SHPs, thermal solar systems and power efficient ventilators. In addition, our new ’Green Leasing’ brand addresses the huge potential for financing investments to improve sustainability and energy efficiency," said Arsen Bazikyan, General Manager of ACBA Leasing.