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.
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.
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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: