In a press release distributed on November 2, 2021 Symbiotics reported that it “has arranged a USD 6.75 million Sustainability Bond for ACBA Bank OJSC (“ACBA”).
This represents a landmark transaction for the only cooperative bank present in Armenia. ACBA has committed to use the proceeds of the Sustainability Bond for both social and green projects, in line with the ICMA Sustainability Bond Principles.
The social projects are micro loans up to USD 10,000 to microenterprises and SME loans up to USD 1 million to small and medium enterprises generating employment and improving the general funding available to this market. The green projects are centered around renewable energy projects, energy efficiency loans, clean transportation and sustainable agricultural loans focused on climate-smart farm inputs.”
You may read the press release on the news page of the Symbiotics internet site.