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Signing of a Loan Agreement for Support Project for Agricultural Sector and Micro, Small and Medium Enterprises in Armenia (Private Sector Investment Finance) : Contributing to the financial inclusion of MSMEs mainly agricultural sector in Armenia
On December 24th 2024, the Japan International Cooperation Agency (JICA) signed a loan agreement with the ACBA BANK OPEN JOINT STOCK COMPANY (hereinafter referred to as “ACBA Bank”), for Private Sector Investment Finance Project.
Signing ceremony
Terms and Amount of Loan
・Borrower
ACBA BANK OPEN JOINT STOCK COMPANY
・Country (Target Areas)
Republic of Armenia
・Loan Amount
50 million USD
・Project Title
Support Project for Agricultural Sector and Micro, Small and Medium Enterprises
・Project Purpose
The project aims to improve access to finance for micro, small and medium enterprises (MSMEs) in Armenia, particularly in the agricultural sector, by providing loans to ACBA Bank, thereby contributing to sustainable economic growth by expanding agricultural production, increasing farmers' incomes and promoting MSMEs.
・Project Component
The Project provides long term loans to be sub-loaned through ACBA Bank to MSMEs, mainly in the agricultural sector.
・Contribution to SDGs
Goal 8 (Decent work and economic growth)
Goal 9 (Industry, Innovation and Infrastructure)
Goal 17 (Partnerships for the Goals)
・Reference
This project is positioned under the Facility for Accelerating Financial Inclusion (FAFI) and the Facility for Supporting Agricultural supply chain and Food security Enhancement (SAFE) established in May 2023.
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