YEREVAN. - The European Bank for Reconstruction and Development (EBRD) has awarded Ameriabank CJSC “Deal of the Year–Energy Efficiency” prize for the improvement of energy efficiency infrastructure in Armenia in 2015.

Ameriabank issued two credits for Alternative Energy LLC. Those credits were confirmed and financed by Commerzbank, being guaranteed by EBRD. The Dutch development bank (FMO) also participated in this transaction, covering certain part of political and payment risks. The entire cost of the initiative was $2.3 mln USD, $1.91 of which was funded by Ameriabank through the issued credits.  

Thanks to the received funding, Alternative Energy was able to obtain high-quality energy saving equipment from the Czech Republic, which allows to save $390,000 USD energy as compared to the greenhouse companies operating with ordinary equipment, as well as reduce the usage of natural gas by 1.950,000 square meters.

Using the high-quality equipment allows the company to acquire competitive privileges both in the local and foreign markets.

Attaching importance to the role of greenhouse companies in Armenian agriculture, Ameriabank actively funds these companies, specifically for the import of energy saving equipment which ensures high productivity.  

Moreover, Ameriabank funds over 70 percent of projects implemented by Armenia-based greenhouse companies.

Through using energy-saving and modern technological equipment, the greenhouse companies are able to acquire competitive advantages, ensure consistent production during the entire year and significantly contribute to the development of Armenian economy.