📋 Tender Overview
Project ID: 56467
Status: In Exploratory, Pending Final Review
Location: Armenia
Business Sector: Financial Institutions
Notice Type: Private
Project Description
Provision of a senior loan to Inecobank of up to USD 15m, of which up to USD 11.25m to be provided by the European Bank for Reconstruction and Development ("EBRD") and up to USD 3.75m by the Green Climate Fund ("GCF") under the GCF-Green Economy Financing Facility ("GEFF") Regional Programme.
Project Objectives
The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies by local private sector commercial sub-borrowers in a gender-responsive way, in line with the standards and reporting requirements of the GEFF in Armenia. 100 per cent of the loan proceeds will be related to Green Economy Transition investments. Inecobank will benefit from Technical Cooperation ("TC") in form of trainings, capacity building and support for project implementation from the dedicated programme consultants.
The Project's use of proceeds may include solar sub-projects. Such sub-projects will be managed in line with "The Proposed Management Approach for Solar Supply Chain Risk Management" (CS/FO/21-35), (CS/FO/21-35 (Add 2)) and any subsequent guidance developed under that approach.
Transition Impact
ETI score:75
project supports the Green TI quality through the provision of funding and know-how to financial intermediaries financing private sector investments in high performing climate change mitigation and adaptation technologies and solutions. This will facilitate Armenia's transition to environmentally sustainable, low-carbon and climate-resilient economy.
