“Symbiotics arranges a Sustainability Bond in Armenia with AraratBank for USD 14.5 million” – Symbiotics – June 8, 2021

In a press release distributed on June 8, 2021 Symbiotics reported that it “has arranged a USD 14.5 million Sustainability Bond for AraratBank.

Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), has made a USD 5 million subscription to this Sustainability Bond. With their support we trust to issue more Green and Sustainable bonds in the coming months and convince European investors to increase their investments in sustainable finance.

The proceeds of the Sustainability Bond will finance both Social and Green eligible loans. Microenterprises and SMEs will benefit from the Social loans to encourage employment creation and business activity in the country. While Green loans will be dedicated to the promotion of renewable energy, energy efficiency, green buildings and clean transportation.”

You may read the press release on the news page of the Symbiotics internet site.