Rural Financial Inclusion Project (ADB-50074-001)

Countries
  • Armenia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 7, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Finca Armenia UCO CJSC (FIAR)
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 6.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 6.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 11, 2017

Disclosed by Bank Oct 17, 2016


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Project Description
This project finances Finca Armenia UCO CJSC as a financial intermediary to invest in micro, small and medium-sized enterprises based outside of Yerevan. This funding is also to be used in the agriculture sector. The ADB is also providing a technical assistance project to fund the development of a credit scoring system and SMART certification of Finca Armenia.
Investment Description
  • Asian Development Bank (ADB)
Up to 75% of ADB's funding will go to micro, small and medium-sized enterprises outside of Yerevan. Up to 70% will be used to onlend to agri-borrowers. The associated technical assistance amount is US$200,000.
Contact Information
*No contacts available* ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main