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Armenia,Austria : EBRD inks deal with with HSBC Armenia for $10 million LOAN

July 17, 2014

A deal has been inked by the European Bank for Reconstruction and Development (EBRD) with HSBC Armenia for a $10 million loan for backing up the industrial and residential renewable energy sectors.

The money would aid HSBC Armenia extend loans to firms seeking to make capital investments in equipment, machinery and other fixed assets, which are created to develop energy efficiency and cuit down more than 20 percent of their energy consumption.

The aim of the facility is at promoting firms to make better use of their country s energy resources.

The grants from the Austrian Ministry of Finance, the European Union Neighborhood Investment Facility and the EBRD Shareholder Special Fund is backing up the CEEP.

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Source: TendersInfo (India)

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