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C. Otto Gehrckens

Raute Oy

Maschinenfabrik Berthold Hermle AG



TRAUB DREHMASCHINEN GmbH

Soco System GmbH

EBRD and Partner Banks Fuel Growth of Local Businesses in Armenia, Mongolia, and Uzbekistan
2024-06-04 00:00:00

The European Bank for Reconstruction and Development (EBRD) is leveraging its Risk Sharing Framework (RSF) to support the expansion of local businesses in Armenia, Mongolia, and Uzbekistan. This initiative is aimed at enhancing the lending capacity of regional partner banks and fostering economic growth.

Key Investments Announced at the EBRD's Annual Meeting

During the EBRD’s 33rd Annual Meeting and Business Forum in Yerevan, the bank announced it would share half the risk on six loans provided by local banks, totaling $24.3 million. These agreements are designed to unlock new financing opportunities for domestic companies.

Armenia: Boosting Innovation and Fast-Food Expansion

In Armenia, the EBRD is sharing the risk on a $15.7 million loan from InecoBank to the TUMO Center for Creative Technologies. This investment will help establish a new hub for innovation and economic growth. The European Union is also contributing $12.5 million to this project.

Additionally, the EBRD is backing a $1.2 million loan from InecoBank to the Karas Group, a leading fast-food chain. This loan will fund the development and implementation of a new marketing strategy and the renovation of 28 outlets.

Mongolia: Supporting Electrical Equipment Supplier

In Mongolia, the EBRD will share the risk on a $1.2 million working capital loan from XacBank to MyMonSource, a supplier of electrical equipment. This loan will help the company meet its working capital needs and finance the procurement of new products. MyMonSource will also benefit from a grant of up to €110,000 under the EBRD’s Skills in Business program, aiding in talent acquisition and training.

Uzbekistan: Expanding Transport and Dairy Production

In Uzbekistan, the EBRD will share the risk on two loans from Hamkorbank. A $1.1 million loan to Avtobus Rent will facilitate the acquisition of new passenger vehicles, catering to the increasing demand for tourist transport. This project is supported by a $90,500 grant from the Swiss State Secretariat for Economic Affairs through the EBRD’s Small Business Impact Fund. A $3.1 million loan to Tillo Domor will enable the completion of a new dairy production plant by the end of 2024.

Furthermore, the EBRD is sharing the risk on a $2 million loan from SQB to Qadrli, a local manufacturer of flour and wheat-based products. This loan will help the company procure more wheat and meet the rising demand for its products.

EBRD’s Commitment to Private Sector Growth

The RSF is a strategic component of the EBRD’s Small Business Initiative, aimed at growing and developing the private sector in its regions. The framework allows the EBRD to share the risk on loans provided by partner banks to eligible enterprises in need of working capital, thereby promoting business growth and competitiveness.

Track Record of Success

To date, the EBRD has partnered with 38 local financial institutions, facilitating over 400 RSF sub-loans to small and medium-sized enterprises, with a total value exceeding €1 billion. This initiative continues to play a crucial role in supporting the development of local businesses and fostering economic resilience in the EBRD regions.