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2024-07-08 00:00:00
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Royal Armenia, renowned for its high-quality coffee, started as a small operation and has steadily expanded its production capacity and product range. Today, the company processes 3,000 tonnes of coffee annually and employs 200 people.
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have played a crucial role in this growth by supporting Royal Armenia's expansion and investment in modern, energy-efficient technology. This support has enabled the company to increase its business volume, create new jobs, and reduce operating costs.
Since 2021, Royal Armenia has been one of over 180 Armenian enterprises to benefit from the EU4Business-EBRD Credit Line. A notable aspect of this initiative is that one-third of these businesses are located outside the capital, Yerevan, and more than 60% have invested in greener technologies.
The EU4Business-EBRD Credit Line is a collaborative effort between the EBRD and the EU, designed to support the growth of local small and medium-sized enterprises (SMEs) in Armenia, Georgia, Moldova, and Ukraine. The EBRD facilitates investments in modern machinery through partner financial institutions, such as Inecobank for Royal Armenia, to enhance production volume, efficiency, and quality standards. Upon successful completion of their investments, firms receive a cash grant incentive of up to 15% from the EU.
This initiative underscores the commitment of the EBRD and EU to fostering sustainable business growth and technological advancement in the region.
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