Green Climate Fund has approved the funding of “Expansion of green financial instruments in the Republic of Armenia” grant project

23-01-2020

On the initiative of the Ministry of Environment, the Green Climate Fund has approved the funding of “Expansion of green financial instruments in the Republic of Armenia” grant project, within the framework of which “ArmSwissBank” LLC has been selected as the implementing body.
Note, that the Ministry of Environment is the National Designated Authority (NDA) to the Green Climate Fund (GCF). In the frames of the project, the Fund allocated approximately a grant of US $660.000 in a bid to support the application of “green” financial instruments in Armenia. 
The grant will be addressed to monitoring  the "green" financing situation in Armenia and to studying the international best practice. The project fulfillment  will also enable to assess the regulatory field of the sphere, thus resulting in development of a package of draft proposals.
As a result of the implementation of “Expansion of green financial instruments in the Republic of Armenia” grant project, licensed banks and non-bank financial institutions will have the opportunity to improve their capacities and methodology, which will allow them to attract additional financial and technical resources from the international market to develop a “green” economy in Armenia. 

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