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EBRD Lends $ 40 M to Acba Bank for Youth-Led Firms in Armenia
The European Bank for Reconstruction and Development (EBRD) is scaling up its support for young entrepreneurs in Armenia with a new loan to Acba bank, one of the country’s leading financial institutions. The facility, which totals $ 40 million (EUR 38.2 million) and is supported by the European Union (EU), is the first dedicated financing facility for young entrepreneurs in the Caucasus region. It will boost access to finance for youth-led micro, small and medium-sized enterprises (MSMEs), helping young people to grow their businesses.
The EU is supporting this loan for youth-led firms by providing first-loss risk cover through its European Fund for Sustainable Development Plus (EFSD+) Financial Inclusion in the Neighbourhood program.
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