According to the EBRD, the project consists of a senior unsecured loan in the amount of up to USD 10 million to ACBA Bank for on-lending to women-led businesses under the Women in Business Programme in the Eastern Partnership countries.
The proposed loan will promote further women's entrepreneurship and women's participation in business facilitating access to finance, know-how and advice. It will further strengthen ACBA's customer base and continue supporting and encouraging the development of new products in the local banking sector with specific focus on women-led SMEs and growth of medium and long-term financing.
As stated by the EBRD, ACBA bank is a long-standing partner bank of EBRD. It is the 4th largest bank in Armenia in terms of total assets and gross loan portfolio, with 8% and 11% respective shares in the system as of 2Q 2023.
Financial Intermediary - ACBA Bank OJSC:
ACCESS TO INFORMATION
You can request information by emailing: email@example.com or by using this electronic form: https://www.ebrd.com/eform/information-request
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
You can contact the PCM at: firstname.lastname@example.org or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en
You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html