The European Investment Bank (EIB) and Ardshinbank have signed a €100 million loan agreement to expand access to finance for micro, small and medium-sized enterprises and mid-cap companies across Armenia, EIB announced. This marks the first direct partnership between EIB Global and Ardshinbank and aims to foster productive investment, strengthen long-term competitiveness, and support job creation throughout the country.
Under the facility, Ardshinbank will extend EIB-backed credit to Armenian companies looking to modernize operations, expand production capacity, adopt new technologies, or enhance competitiveness in local and international markets. Ten percent 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 to help ensure 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 December 12, 2025, in Yerevan, attended by Ardshinbank’s Chairman of the Management Board Artak Ananyan and EIB representative Marion Hoenicke. Vassilis Maragos, European Union ambassador to Armenia, addressed the event on behalf of the EU.
“Behind every thriving economy are local businesses that keep communities strong and people employed,” said EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Armenia. “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.”
Artak Ananyan, Ardshinbank’s Chairman of the Management Board, 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 small and medium-sized enterprises with the stability and resources they need to scale, modernize and compete on a global stage.”
