On December 24, 2024, the Japan International Cooperation Agency (JICA) signed a loan agreement with ACBA BANK OPEN JOINT STOCK COMPANY (“ACBA Bank”) of the Republic of Armenia. The loan agreement was signed with ACBA BANK OPEN JOINT STOCK COMPANY (“ACBA Bank”) of the Republic of Armenia.
Signing Ceremony
Project Summary
Loan recipient
ACBA BANK OPEN JOINT STOCK COMPANY
Country (region covered)
Republic of Armenia
Loan amount
US$50 million
Project Name
Agricultural Sector and Small and Micro Business Support Program
Business Objectives
This project aims to improve access to finance for micro, small and medium enterprises (MSMEs), mainly in the agricultural sector, by providing loans to ACBA Bank in Armenia, thereby contributing to the expansion of agricultural production, increase in farmers’ income, and sustainable economic growth through the promotion of MSMEs. The Project aims to improve access to finance for Micro, Small and Medium Enterprises (MSMEs), mainly in the agricultural sector, by providing loans to ACBA Bank in Armenia, thereby contributing to the expansion of agricultural production, increase in farmers’ income, and sustainable economic growth through the promotion of MSMEs in the country.
Business Overview
Facilitate lending by ACBA Bank to MSMEs, primarily in the agricultural sector, through long-term loans to ACBA Bank.
Contribution to SDGs
Goal 8 (both job satisfaction and economic growth)
Goal 9 (Create a foundation for industry and technological innovation)
Goal 17 (Let’s achieve our goals in partnership)
Other
This project is positioned under the Financial Inclusion Facilitation Facility (FAFI) and the Food Security Response Facility (SAFE) established in May 2023.
© Source JICA
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