This pioneering initiative will improve access to finance over the next five years, contributing to scale up digital financial solutions and piloting insurance to 500,000 low-income farmers, including women, youth entrepreneurs.

By addressing the need for improved access to financial services and support for MSMEs in agriculture, the project aims to contribute to the creation of jobs and the sustainable and inclusive economic development of the sector.

The general objective is to test a tailor-made and innovative agricultural product for smallholder farmers and expand the loan products to rural areas.

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.

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.

Even before the COVID-19 crisis, access to finance was the biggest obstacle for doing business in Armenia. Has it increased following the pandemic?