The European Bank for Reconstruction and Development (EBRD) has created an Armenian Sustainable Energy Financing Facility (ArmSEFF). It will implement energy lending programs. A total of U.S. $20 million will be allocated for energy programs, with U.S. $5 million for renewable energy development.

The funds will be provided to interested organizations by means of commercial banks. The Bank Anelik is known to be involved in the program, and other institutions are interested in the program. The program is implemented with the RA Government’s financial assistance.

The ArmSEFF presentation was held at the Armenian Marriot hotel on November 10. The presence of the ministers of economy, nature protection and energy had been announced, but none of them came. Head of the Credit Department Hayk Grigoryan, as well as Head of the EBRD office in Yerevan Valeriu Razlog, held the presentation.