| Project Detail |
As per section 1.4.2 (iii) of the Directive on Access to Information: For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD. Project Description Provision of a senior loan to Inecobank of up to USD 15m, of which up to USD 11.25m to be provided by the European Bank for Reconstruction and Development (EBRD) and up to USD 3.75m by the Green Climate Fund (GCF) under the GCF-Green Economy Financing Facility (GEFF) Regional Programme. Project Objectives The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies by local private sector commercial sub-borrowers in a gender-responsive way, in line with the standards and reporting requirements of the GEFF in Armenia. 100 per cent of the loan proceeds will be related to Green Economy Transition investments. Inecobank will benefit from Technical Cooperation (TC) in form of trainings, capacity building and support for project implementation from the dedicated programme consultants. The Projects use of proceeds may include solar sub-projects. Such sub-projects will be managed in line with The Proposed Management Approach for Solar Supply Chain Risk Management (CS/FO/21-35), (CS/FO/21-35 (Add 2)) and any subsequent guidance developed under that approach. |
