Energy efficiency program for SMEs

completed

The development cooperation programme objective (Impact) in the focus area of sustainable economic development is to promote the Armenian private sector in order to contribute to the creation of sustainable and broad-based employment and income opportunities. The focus of the programme presented here is the broadening and deepening of the Armenian financial sector. The aim of the FC measure (Outcome) is the sustainable introduction and, if necessary, the expansion of the existing range of energy efficiency (EE) loans and the use of these financing offers by private micro, small and medium-sized enterprises (MSMEs). This is intended to reduce energy consumption and ultimately the volume of greenhouse gas emissions in MSMEs and increase competitiveness. As part of the FC measure, loans in local currency are to be issued to MSMEs. The immediate target group are private partner financial institutions (PFIs) active in MSME promotion, which receive local currency via the German Armenian Fund (GAF) and issue the funds to the private MSMEs (indirect target group).