📋 Tender Overview
Project ID: 56191
Status: In Exploratory, Pending Final Review
Location: Armenia
Business Sector: Financial Institutions
Notice Type: Private
Project Description
Provision of a senior unsecured loan to ACBA Leasing in the amount of up to USD 5 million, of which up to USD 3.75 million to be provided by the European Bank for Reconstruction and Development ("EBRD") and up to USD 1.25 million 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 to extend leases for the financing of investments in climate change mitigation and adaptation technologies by local private sector commercial sub-lessees 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. ACBA Leasing will benefit from Technical Cooperation ("TC") in form of trainings, capacity building and support for project implementation from the dedicated programme consultants.
Transition Impact
ETI score:75
project supports the Green TI quality through the financing of private sector investments in high performing climate change mitigation and adaptation technologies and solutions. This will facilitate Armenia's transition to environmentally sustainable, low-carbon and climate-resilient economy.
Client Information
ACBA LEASING CREDIT ORGANIZATION CJSC
ACBA Leasing Credit Organization CJSC ("ACBA Leasing", "AL"), incorporated in Armenia and owned by ACBA Bank CJSC, is the leader in the leasing market in Armenia.
EBRD Finance Summary
USD 3,750,000.00
Total Project Cost
USD 5,000,000.00
Additionality
Financing structure: EBRD offers a tenor, which is longer than available to the client in the market on reasonable terms and conditions.
Innovative financing structures and/or instruments: EBRD offers an innovative green finance instrument that integrates aspects such as climate and environmental, social and governance (ESG) standards and/or climate and ESG risk considerations into the financing structure. For instance,adjusting loan pricing and/or level of concessionality to reflect level of climate risk and/or positive climate benefits, such as GHG reductions, climate resilience benefits and/or compliance with higher standards of GET technologies.
Standard-setting: Client seeks EBRD expertise on higher inclusion and gender standards and/or equal opportunities action plans.
Knowledge, innovation and capacity building: EBRD provides expertise, innovation, knowledge and/or capabilities that are material to the timely realisation of the project's objectives, including support to strengthen the capacity of the client.
Environmental and Social Summary
Categorised FI (ESP 2019) - ACBA Leasing will be required to continue complying with Performance Requirements (PRs) 2, 4, and 9, including adherence to the EBRD's E&
