EIB and Ardshinbank launch €100 million partnership to boost business growth and job creation in Armenia

The EIB will provide a €100 million loan to Ardshinbank to boost access to finance for micro, small and medium-sized enterprises (MSMEs) and mid-caps in Armenia. The initiative is expected to support around 300 Armenian firms and sustain more than 10 000 jobs.

EU support means a portion of the financing can be provided in local currency, reducing exchange rate risk for businesses.

The European Investment Bank (EIB), the bank of the European Union, and Ardshinbank OJSC are entering a new phase of cooperation with the signing of a €100 million loan agreement to expand access to finance for micro, small and medium-sized enterprises and mid-cap companies across Armenia. This landmark transaction marks the first direct partnership between the EIB and Ardshinbank and aims to foster productive investment, strengthen long-term competitiveness and support job creation throughout the country.

Under this facility, Ardshinbank will extend EIB-backed credit resources to Armenian companies seeking to modernise their operations, expand production capacity, adopt new technologies or enhance competitiveness in local and international markets. In addition, 10% of the facility will be allocated to green lending to support energy efficiency, renewable energy and other environmentally sustainable investments.

A portion of the financing may be provided in local currency to protect businesses against currency risk. The European Union is supporting the operation with grant funding, helping to ensure that the financing remains affordable for Armenian firms. Overall, the operation is expected to benefit around 300 enterprises and sustain more than 10 000 jobs.

The signing ceremony took place on 12 December 2025 in Yerevan, attended by Ardshinbank’s Chairman of the Management Board Artak Ananyan and EIB representative Marion Hoenicke. Vassilis Maragos, ambassador of the European Union to Armenia, addressed the event on behalf of the European Union.

EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Armenia, said:

“Behind every thriving economy are local businesses that keep communities strong and people employed. By joining forces with Ardshinbank, we are helping Armenian micro, small and medium-sized enterprises access the resources they need to invest, adapt and build resilience. I am especially pleased that part of the financing will drive green transformation, enabling businesses to grow responsibly and contribute to a more sustainable future for Armenia.”

EU Ambassador to Armenia Vassilis Maragos said:

“Armenia’s economic future will be shaped by the ambition and resilience of its small businesses. By partnering with the EIB and Ardshinbank, the European Union is helping to ensure that Armenian firms have access to the financing they need to grow confidently, create jobs and invest in greener, more sustainable technologies. Boosting access to finance for small and medium-sized enterprises – the backbone of the Armenian economy – is a key element of the newly adopted Strategic Agenda for the EU-Armenia Partnership.”

Ardshinbank’s Chairman of the Management Board Artak Ananyan said:

“We are pleased to deepen our cooperation with one of the most reputable international financial institutions, whose values closely reflect our own. With these funds, we aim to provide long-term financing to the businesses that drive growth, innovation and employment across our country. This partnership marks a meaningful step in broadening Armenia’s access to high-quality international funding, empowering our micro, small and medium-sized enterprises and mid-caps with the stability and resources they need to scale, modernise and compete on a global stage. I am confident that, together, we will contribute to building a stronger and more prosperous future for Armenia.”

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, it finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high -impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in the Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that directly contribute to climate change mitigation and adaptation, and to a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scaleups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

About Ardshinbank OJSC

Ardshinbank is the leading Bank in Armenia with a diversified universal banking offering including retail and commercial banking, investment banking, and private & wealth solutions. The Bank has over 570,000 customers served by 2,300+ employees, a strong omnichannel distribution platform with 72 branches.

Ardshinbank is the only private entity in Armenia with assigned ratings from three international rating agencies, all at the level of the sovereign, as follows: S&P Global Ratings (BB- (Stable)), Moody’s (Ba3 (Stable)) and Fitch (BB- (Stable)).