HSBC clients in Armenia can now benefit from funding for green energy projects.
On July 4, an agreement was signed between the European Bank for Reconstruction and Development (EBRD) and HSBC Bank Armenia CJSC for a US$ 10 million loan to be directed to the industrial and residential renewable energy sectors. The funds will allow HSBC Armenia to support its borrowing clients in their energy efficiency and renewable energy investments, informed the EBRD official website.
These funds will be lent to companies willing to make capital investments in their equipment, machinery and other fixed assets aimed at achieving overall energy efficiency and reductions of over 20 percent in their energy consumption. The maximum tenor of the loans is five years.
This initiative aims to help Armenia reduce the energy intensity of its economy and promote energy efficiency investments in various sectors, such as power and energy, industry, agriculture, municipal and environmental infrastructure, property and the residential sector.