📋 Tender Overview
Project ID: 56802
Status: In Exploratory, Pending Final Review
Location: Armenia
Business Sector: Financial Institutions
Notice Type: Private
Environmental Category: FI
Approval Date: 08 Oct 2025
Disclosure date: 20 Aug 2025
Project Description
Provision of a senior loan to Industrial Construction Bank CJSC (Ardshinbank CJSC) in amount of up to EUR 5m under the Refugee Response Window of the SME Competitiveness and Inclusion Programme in Eastern Partnership (the "Programme"), to support refugee-led businesses and encourage local firms to create employment opportunities for refugees and invest in their skills development, contributing to long-term inclusive impact. The loan will have a tenor of up to 5 years.
Project Objectives
The project aims to foster inclusive economic growth by supporting the entrepreneurial activities of refugees and displaced population, as well as incentivising local MSMEs to create employment opportunities for them. Aligned with the Programme's primary objective of helping MSMEs upgrade their operations to EU standards, the transaction will enable local companies to invest in modernising their production processes, with a particular focus on green technologies. These upgrades are expected to enhance the competitiveness of Armenian businesses in the European market, aiming to achieve at least 70% share of Green Economy Transition ("GET") aligned investments under the Programme.
Transition Impact
Competitive: Ardshinbank will expand its MSME loan portfolio with a focus on reaching regional MSMEs and attracting new clients.
Resilient: Ardshinbank is expected to maintain strong loan portfolio quality.
Inclusive: The project improves access to finance for displaced people and promotes their integration into the labour market through MSME-led job creation and skills development.
