Lack of a formal IDs slows economic growth by limiting who can participate in the formal economy.

With support from the World Bank, the Western Balkan economies are making significant progress in aligning their national payment systems with EU standards as part of their accession goals.

Mi-Bospo operates mainly in rural areas and offers access to credit and non-financial services to individuals, particularly women entrepreneurs.

More than 40 percent of the loan amount was allocated to energy efficient housing projects, i.e. purchase of new energy efficient apartments, as well as individual house constructions and renovations.

Attracted financial means will be directed towards the development of micro, small and medium-sized businesses in Armenia.

A senior loan of EUR 5 million will be on-lent by the bank to businesses that want to implement energy efficiency and resource efficiency measures, as well as small scale renewable energy projects. 

The project allows for financing of various loan purposes, for example purchase of housing from primary and secondary markets, renovation, and single-family house construction.

This new office in Yerevan, Armenia aims to strengthen Symbiotics' long-standing presence in the region and further support its growth.

ACBA has committed to use the proceeds of the Sustainability Bond for both social and green projects, in line with the ICMA Sustainability Bond Principles.

Microenterprises and SMEs will benefit from the Social loans to encourage employment creation and business activity in the country.