According to the Bank's website, this project finances onlending to women-led micro, small and medium-sized enterprises.
This loan will be followed by the development of sustainable credit mechanisms targeted at women-led micro, small and medium-sized enterprises through technical assistance to Converse Bank and technical support for women-led micro, small and medium-sized enterprises.
Converse Bank CJSC is an established dynamically growing bank, which offers various services to individuals and legal entities. Among 17 banks in Armenia, Converse Banks ranks the 6th by three indicators: total assets (5.6% market share), loan portfolio (6.2% market share) and customer deposits (6.5% market share) as of 3Q 2019.
Converse Bank CJSC is ultimately owned by Mr. Eduardo Eurnekian, an Argentine businessman with Armenian roots.
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, 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.