EBRD and Inecobank to fund green building in Armenia
Armenia, April 29 -- The European Bank for Reconstruction and Development (EBRD) and Inecobank CJSC are supporting the development of a green mixed-use residential complex in the Armenian capital, Yerevan, with a senior secured loan of up to US$ 30 million (€26 million) under their risk-sharing facility.The loan will be extended to Nuovo Velodromo LLC, a newly established special purpose vehicle co-owned by Renco Group S.P.A., a leading Italian construction company, and its local partner, the Adamium group of companies. The funds will go towards financing the construction of a mixed-use residential complex with a total area of approximately 47,000 square metres.The total cost of the project is estimated at around US$ 92 million (̈́...
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