ADB, Converse Bank Sign $15 Million Financing to Boost Women-Owned MSMEs and Sustainable Lending in Armenia
Armenia, June 26 -- The Asian Development Bank (ADB) has signed a financing package of up to $15 million with Converse Bank Closed Joint Stock Company (Converse Bank) to expand access to finance for micro, small, and medium-sized enterprises (MSMEs) and households, and to support sustainable lending in Armenia.The financing includes an ADB loan of up to $13 million and a $2 million ADB-administered loan from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA). Of the $13 million, $11 million will be on-lent to MSMEs-with at least 20% allocated to women-owned enterprises-while $2 million will complement the CANPA financing to support sustainable MSME and household lending that delivers measurable natural hazard mitiga...
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