The “Entrepreneur + State Anti-Crisis Investments Fund” managed by the Armenian National Interests Fund’s (ANIF) subsidiary, will invest USD 4 million in the EU-Armenia SME Fund (hereinafter: the Fund) supported by the European Bank for Reconstruction & Development (EBRD) and the European Union and managed by Amber Capital Armenia, ANIF informed Armenian News-NEWS.am.
The committed capital of the Fund will hence reach the target size of USD 50 million, which will be invested directly into the Armenian economy. The goal is to make equity investments in private companies operating in the Republic of Armenia to support business expansion plans. FMO, the Dutch entrepreneurial development bank, has also committed USD 7 mln to the Fund. FMO invests in the fund to support building the PE industry in Armenia, which in turn will help to make financing available for SMEs and facilitate the creation of jobs (SDG8). CEO of ANIF, David Papazian, said: "Today there are almost no alternative business financing tools in Armenia, such as private equity funds. Our subscription is of strategic importance, as it takes place along a subscription by a strategic European investor such as FMO. The investment is especially valuable for ANIF taken into account the contribution to the development of the Armenian economy, as well as its capital markets.”
Managing Partner of Amber Capital Armenia Anush Simonyan said: "We would like to thank ANIF for this investment. We believe it reflects the trust in the EU Armenia SME Fund, and lays foundation for a long-term mutually beneficial partnership between Amber Capital and ANIF."