Who can apply

• • Investment project compliant with one or more relevant EU Directives in the field of  environmental protection, workers’ health and safety and product quality and safety, as listed in the Priority EU Directives
  • Or, investment compliant with a EU Directive (other than a Priority EU Directive), confirmed as suitable by the Project Consultant
  • Project not benefitting from another EU grant or any other grant or subsidy available from an international or national donor organization
  • Individual SMEs are eligible for total aggregate loans of up to EUR 3 million (for complex projects)
  • The loan amount shall not exceed 100% of the investment cost of the relevant project (VAT Excluded)
  • Eligible investment costs incurred after the date of the Agreement between the company and a Partner Bank or a Financing Institution
  • Each project successfully implemented is eligible for an Investment Incentive payment of up to 15% of the financed amount following Verification Consultant’s check 

• • SMEs as per EU definition: fewer than 250 employees; a turnover of less than €50 M or total Balance sheet less than €43 M ; no more than 50% by shareholders that exceed the SME criteria,
    (http://ec.europa.eu/growth/smes/business-friendly-environment/sme-definition_en and
    http://ec.europa.eu/DocsRoom/documents/15582/attachments/1/translations)
  • Operating in a sector that can be open to export
  • The business must be registered in Armenia, operating primarily in Armenia, and operating in accordance with the laws of Armenia
  • At least 51% privately owned and privately run
  • Applicants must meet the usual financing appraisal criteria of a Partner Bank or Partner Financing Institution
  • The applicant must comply with the EBRD’s Environmental and Social Policy https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html

A Loan or a Lease cannot be utilized for the purpose of financing any of the following:

• • Construction of roads and railways
  • Extraction of raw material and mining
  • Manufacture of article of concrete, cement and plaster
  • Any activities appearing on the EBRD Environmental and Social Exclusion List as outlined in Appendix 1 of the applicable EBRD Environment and Social Policy dated 25^th April 2019 (https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html)