ACTIVITY TITLE
VERSION 2.01
EaP SMEC II - InecoBank
Reported by
European Bank for Reconstruction and Development XI-IATI-EBRD Multilateral
ACTIVITY SCOPE COLLABORATION TYPE AID TYPE FINANCE TYPE FLOW TYPE TIED STATUS HIERARCHY
National 4 Multilateral outflows 4
Project-type interventions C01
Untied 1
IATI IDENTIFIER
XI-IATI-EBRD-54095
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DOCUMENTS ( 4 )
Project Summary Document - Transition Impact Environmental Social Summary TEXT/HTML EN Pre- and post-project impact appraisal Project Summary Document TEXT/HTML EN Objectives / Purpose of activity Country Strategy TEXT/HTML EN Memorandum of understanding (If agreed by all parties) Procurement/Tenders TEXT/HTML EN Tender
Planned start date 2022-11-30
Planned end date 2027-06-23
Actual start date 2022-11-30
activity status: Implementation
The activity is currently being implemented
WHO'S INVOLVED ( 2 )
PARTICIPATING ORG REFERENCE ROLE TYPE
European Bank for Reconstruction and Development
 Funding Multilateral
INECOBANK CJSC
 Implementing Private Sector
General
Provision of a senior loan to Inecobank ("IB") of up to USD 9 million under the SME Competitiveness Programme in Eastern Partnership ("EaP SMEC") established by the European Bank for Reconstruction and Development ("EBRD") in cooperation with the European Union ("EU") to be on-lent to eligible micro, small and medium sized enterprises ("MSMEs") to support their investments in sustainable technologies as well as health and safety measures. At least 70 per cent of all financed sub-loans are expected to be compliant with EBRD Green Economy Transition ("GET") approach. In addition to long-term financing, eligible sub-borrowers will benefit from investment incentives upon successful completion of their investment projects. The project will enable IB to finance long-term investments of Armenian MSMEs in upgrading their production processes/equipment to achieve compliance with the EU standards, including investments in sustainable and green technologies and thus enhance the competitiveness of Armenian MSMEs in the European and domestic markets.
recipient country ( 1 )
ArmeniaAM
100
LOCATION ( 1 )
NAME DESCRIPTION POSITION CLASS REACH EXACTNESS
ARMENIA
ID 174982 (Geonames)
40.18111 44.51361 Administrative Region Approximate
country budget items ( 1 )
IATI Withdrawn ( 1 )
The budget identifier reported uses IATI budget identifier categories
7.1.1
100
sector ( 1 )
OECD DAC CRS 5 digit1( 1 )
The sector reported corresponds to an OECD DAC CRS 5-digit purpose code http://reference.iatistandard.org/codelists/Sector/
Formal sector financial intermediaries24030
100
GLOSSARY
Formal sector financial intermediariesAll formal sector financial intermediaries; credit lines; insurance, leasing, venture capital, etc. (except when focused on only one sector).
Financial Overview
Outgoing Commitment ( 1 )
Outgoing Commitment
Transactions ( 1 )
Outgoing Commitment ( 1 )
DATE DESCRIPTION PROVIDER RECEIVER VALUE
2022-11-30
FLOW Other flows 50
FINANCE Investment-related loan to developing countries Withdrawn 411
INECOBANK CJSC
 7,887,237.48
EUR
Outgoing Commitment
General Enquiries
European Bank for Reconstruction and Development
+44 20 7338 7380
projectenquiries@ebrd.com
www.ebrd.com
5 Bank Street, London E14 4BG
conditions( 1 )
NARRATIVE TYPE DESCRIPTION
Provision of a senior loan to Inecobank ("IB") of up to USD 9 million under the SME Competitiveness Programme in Eastern Partnership ("EaP SMEC") established by the European Bank for Reconstruction and Development ("EBRD") in cooperation with the European Union ("EU") to be on-lent to eligible micro, small and medium sized enterprises ("MSMEs") to support their investments in sustainable technologies as well as health and safety measures. At least 70 per cent of all financed sub-loans are expected to be compliant with EBRD Green Economy Transition ("GET") approach. In addition to long-term financing, eligible sub-borrowers will benefit from investment incentives upon successful completion of their investment projects. The project will enable IB to finance long-term investments of Armenian MSMEs in upgrading their production processes/equipment to achieve compliance with the EU standards, including investments in sustainable and green technologies and thus enhance the competitiveness of Armenian MSMEs in the European and domestic markets. For more details, please refer to the project summary document at https://www.ebrd.com/view/psd/54095
 Performance The condition attached requires certain outputs or outcomes to be achieved by the recipient