ACBA Leasing will place $ 4 million in energy-efficient SME projects using 10% cashback

ArmInfo. ACBA Leasing will place  $ 4 million out of $ 17 million provided by the European Bank for  Reconstruction and Development to the ACBA-Credit Agricole Bank in  energy efficiency projects. As ArmInfo explained in the leasing  company, the purpose of financing is to provide SMEs with the  opportunity to purchase energy-efficient and energy-saving equipment  in leasing.

Within the framework of this EBRD program, SMEs will receive a 10%  cashback from the amount of funding for the implementation of the  "green program" through grants from the EU investment fund -  "Neighborhood Investment Facility".

ACBA Leasing, within the framework of the Green Leasing sub-brand,  has financed over 800 green projects for a total of 8.3 billion  drams. Thanks to these projects it was possible to prevent the  release of about 6 thousand tons of carbon dioxide into the  atmosphere, as well as create additional incentives for development  alternative energy in Armenia.

Recall that in August 2018 ACBA-Credit Agricole Bank signed a loan  agreement with EBRD for $ 17 million to provide financial assistance  to small and medium-sized businesses, which will mainly be carried  out in AMD. Of this amount, $ 3 million is aimed at financing  enterprises established or run by women, and $ 4 million through the  leasing company ACBA-Leasing will be directed to the implementation  of energy- efficient projects.

According to the Ranking of Armenian credit companies prepared by IC  ArmInfo, the volume of leasing operations of ACBA-Leasing exceeded by  July 1, 2018 14.7 billion drams ($ 30.5 million), with an annual  growth of 20.1%. In the total volume of leasing operations of banks  and credit companies, the share of ACBA-Leasing reaches 80%.

It should be noted that ACBA-Leasing is the first leasing company of  Armenia, founded in 2003. ACBA- Leasing is a member of the financial  group ACBA-Credit Agricole. ACBA-Credit Agricole Bank acts as the  holder of 100% of ACBA-Leasing.