SEF International will receive a local currency loan worth US$ 1 million for on-lending to rural customers for energy efficiency investments.
The sub-loans, which are expected to become available from August 2016 onwards, will primarily support investments in energy and cost-efficient heating, cooling, ventilation systems and small business equipment.
As SEF International mainly targets small borrowers, loans are expected to be in the range of US$ 300 to US$ 600, with a 10 per cent grant element for eligible projects provided by the EBRD Shareholder Special Fund.
The EBRD extended the first US$ 1 million facility to SEF International in 2014. The funds were allocated to more than 1,600 customers, mostly from rural regions of Armenia, with an average loan size of US$ 500 equivalent.
Read more at http://www.ebrd.com
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