XM-DAC-903-SII-32799 International Finance Corporation The Project consists of providing up to US $2.5 million A Loan to CJSC Euroterm (Euroterm or the Company). Euroterm is the leading Armenian producer of fruit juice, concentrate and preserved food. In addition, the Company provides heating system installation services. The Company has recently expanded its capacity in fruit concentrate and tomato paste processing. Euroterm has already financed the expansion with short- term loans as a bridge financing. The proposed investment entails providing a corporate loan to Euroterm, to be utilized for refinancing part of its existing debt and for additional working capital requirements to support the Companys growth. . The proposed Project has significant development impact including the following: (i) Support of the development of Armenian agriculture, a sector which is the largest employer in Armenia; (ii) It would also help promote export-oriented manufacturing, generating hard currency revenues; (iii) Job creation; (iv) Linkage to the farmers: as a result of expanded production, the Company is expected to increase the number of farmers supplying agricultural products from app. 570 to around 740. The project would have significant positive trickle down effects on farmers who can increase their sales and revenues by supplying agricultural products to Euroterm Euroterm ZAO Mr. Vahe Ghazaryan, General Manager, Tel: +37410-634101, 37410-647587 Email: mailto:vahe.ghazaryan@euroterm.am Address: 15/2 Amiryan Str., Yerevan, Armenia, International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Mr. Vahe Ghazaryan, General Manager, Tel: +37410-634101, 37410-647587 Email: mailto:vahe.ghazaryan@euroterm.am Address: 15/2 Amiryan Str., Yerevan, Armenia, Armenia Euroterm is headquartered in Yerevan, Armenia and has two production plants across the country. The existing production facility is located next to the major highway at the address: 5 A. Kochinyan Street, Yerevan and the new production plant is located in Armavir region of Armenia, close to the farmers supplying fruits and vegetables to the Company. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 F-AE - Fruit and Vegetable Preservation or Processing (Canning, Freezing, Drying, Jams, etc.) Total: $2.50 million 2500000.00 2500000.00 Euroterm ZAO Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32799/noyan-project XM-DAC-903-SII-32970 International Finance Corporation The proposed project will support an investment by Property Development Company CJSC (Prodeco) for the construction of a ~23,000sqm Class A, 9 storey energy efficient green office complex in central Yerevan. The project is a greenfield that will contribute a modern, green building to the existing business infrastructure of the country, providing an important model for future energy efficient construction projects in the country. The office complex will be constructed on a total land area of 2,850 sqm on V. Sargsyan street, with the main façade of the existing building remaining intact in the new construction. The property developer, Prodeco, owned 100% by Ameria Group, was established in 2007 and specializes in real estate development. 1) Elevation of commercial real estate standards-throughout the country through development of a Class A office building; 2) Development of high quality business infrastructure in Armenia; 3) Direct and indirect employment of service jobs; possibility for further linkages; 4) Tax revenues will accrue to the government; 5) Implementation of green building standards and sound E&S policies as per IFC requirements PROPERTY DEVELOPMENT COMPANY CJSC Mr. Artashes Kazakhetsyan Director, Property Development Company CJSC 9, G. Lusavorich str. Yerevan 0015 Republic of Armenia Phone: +374 10 56 1111 Fax: + 374 10 51 31 33 e-mail: mailto:artashes@ameria.am http://www.prodeco.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Property Development Company CJSC 9, G. Lusavorich str. Yerevan 0015 Republic of Armenia Phone: +374 10 56 1111 Fax: + 374 10 51 31 33 e-mail: mailto:artashes@ameria.am http://www.prodeco.am Site location Bd. 2, V.Sargsyan 4, Yerevan 0010 Republic of Armenia http://www.prodeco.am Armenia Project site is located in central Yerevan, within 100m from the main Republic Square of Yerevan, Armenia. The land location has large amount of pedestrian and land traffic being situated in one of the central streets of the city. Currently there are existing buildings in the site location, which will be demolished during the construction of the new building. Exact address for the site is as follows: Bd. 2, V.Sargsyan 4, Yerevan 0010 Republic of Armenia http://www.prodeco.am Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 D-AA - Construction and Real Estate Total: $10.00 million 10000000.00 10000000.00 PROPERTY DEVELOPMENT COMPANY CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32970/property-development-company-cjsc XM-DAC-903-SII-33031 International Finance Corporation The IFC will provide a medium-term loan of up to US$10 million to Unibank closed joint-stock company (the Bank) to on-lend to eligible small and medium sized enterprises in Armenia. Unibank, established in 2001, is one of leading banks in Armenia with operations across the country. The project aims to facilitate access to finance to Armenian SMEs and, hence, support recovery of the Armenian economy from the consequences of the global financial crisis. IFCs investment would be complemented by related advisory services that meet the Banks strategic needs and enhance its risk management practices and SME lending capacity. SMEs in Armenia are underserved by the banking sector due to the limited supply of long-term financing. This lack of financing is one of the reasons of the slow development of the private SME sector in the country. The proposed Project will: (i) increase the amount of funding available for SMEs, in partnership with one of Armenias leading banks, and (ii) foster competition among the Armenian banks for lending to SMEs which will support the sustainable development of the SME sector in Armenia. The development impact of the project is expected to be significant in terms of its support for local businesses in real economy. By providing financing to the Bank, IFC will enable the Bank to expand its SME lending operations and provide commercial financing to businesses in a variety of sectors, therefore fostering economic growth through job creation. In addition, the project will have an important demonstration effect to other foreign investors. By enabling the Bank to expand its "commercially-priced" funding base, the project should have a meaningful contribution to building a viable banking system in Armenia. UNIBANK OJSC Unibank closed joint-stock company 12 Charents str., N 53, N1-5 0025 Yerevan, Armenia Phone: (37410) 59-22-59, Fax: (37410) 55-51-40 International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Unibank closed joint-stock company 12 Charents str., N 53, N1-5 0025 Yerevan, Armenia Phone: (37410) 59-22-59, Fax: (37410) 55-51-40 Armenia Unibank is registered in Armenia and headquartered in capital Yerevan. It operates in Yerevan and main regions of the country through its 45 branches. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AA - Commercial Banking - General Total: $5.00 million 5000000.00 5000000.00 UNIBANK OJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33031/unibank-sme XM-DAC-903-SII-33450 International Finance Corporation The proposed project entails the acquisition, operation, maintenance and major electro-mechanical rehabilitation of the 404.2MW Vorotan cascade hydropower generation plants and associated reservoirs in southern Armenia (the Project), including the 76MW Spandaryan (commissioned in 1989), the 171MW Shamb (commissioned in 1979) and the 157.2MW Tatev (commissioned in 1970) plants along the Vorotan River (together, the Vorotan Cascade). The Vorotan Cascade is among the main power generation complexes in Armenia, providing both peak and base load generation, and performing grid stabilization services. The Vorotan Cascade is supported by a system of five reservoirs: Spandaryan, Angeghakot, Tolors, Shamb and a daily regulation reservoir. A newly created Armenian company, ContourGlobal Hydro Cascade CJSC (Company), which is wholly-owned by ContourGlobal, a global developer and operator of power generation projects, is acquiring the Vorotan Cascade assets from Vorotan Complex of Hydro Power Plants CJSC, an Armenian state-owned company. The proposed project''s positive development impact includes: (i) transfer of state-owned hydros to a competent global private power company that will undertake a much-needed rehabilitation investment program, which is expected to improve the operational availability and efficiency of the power plants, helping prevent further degradation and reduction in power generation; (ii) the privatization proceeds will provide budgetary support to the Government of Armenia; (iii) positive climate change impacts through efficiency enhancements, often the least cost option for greenhouse gas abatement. CONTOURGLOBAL HYDRO CASCADE CJSC International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Garry Levesley Director 9, G, Lusavorich Street Yerevan 0015 Armenia Telephone: +359 28102330 Email: mailto:garry.levesley@contourglobal.com Armenia The Project is located along the Vorotan River in southern Armenia. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 V-BA - Large Hydro - Renewable Energy Generation Total: $23.80 million 16660000.00 7140000.00 16660000.00 CONTOURGLOBAL HYDRO CASCADE CJSC 7140000.00 CONTOURGLOBAL HYDRO CASCADE CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33450/vorotan-hydros XM-DAC-903-SII-33520 International Finance Corporation The proposed project is a part of the IFC Armenia Short-Term Liquidity Facility (ASLF or Facility), which envisages providing short-term revolving trade financing to IFC client banks in Armenia for on-lending to local SME importers and exporters. The majority of international trade in Armenia is conducted on a cash basis (e.g. prepayments, cash/documents or cash/goods basis); and, significantly, most of the SME trade flows are intra-regional such as Russia-Armenia, Ukraine-Armenia, and Georgia-Armenia, among others. Under the Facility, IFC will provide targeted banks with one-year USD liquidity facilities renewable, at IFCs option, up to three years in total; thereby, facilitating access to much-needed trade working capital to SMEs. Increased Access to Financing for SMEs: Limited access to finance is considered a key constraint to private sector growth. Increased access to finance is indispensable to grow the competitiveness of SMEs. By directly financing the short term US$ liquidity needs of local banks to support SME trade and foreign currency working capital finance needs, the facility will support SMEs and will have a positive impact on economic activity in Armenia. INECOBANK CJSC Viktoria Ter-Sargisova Inecobank Development and External Relations / External Relations Team Acting Head of External Relations Team 17 Tumanyan str., Yerevan 0001, Armenia Tel: (+374 10) 510 565, (+374 10) 510 510 Fax: (+374 10) 510 573 E-mail: Viktoria.Termailto:-Sargisova@inecobank.am URL: http://www.inecobank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Bank conducts business throughout the Republic of Armenia through its head office and 14 branches. The registered office of the Bank is located at: 17 Tumanyan str., 0001 Yerevan, RA. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AK - Commercial Banking - Trade and Supply Chain Total: $5.00 million 5000000.00 5000000.00 INECOBANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33520/wcss-inecobank-aslf XM-DAC-903-SII-33521 International Finance Corporation The proposed project is a part of the IFC Armenia Short-Term Liquidity Facility (ASLF or Facility), which envisages providing short-term revolving trade financing to IFC client banks in Armenia for on-lending to local SME importers and exporters. The majority of international trade in Armenia is conducted on a cash basis (e.g. prepayments, cash/documents or cash/goods basis); and, significantly, most of the SME trade flows are intra-regional such as Russia-Armenia, Ukraine-Armenia, and Georgia-Armenia, among others. Under the Facility, IFC will provide targeted banks with one-year US Dollar liquidity facilities renewable, at IFCs option, up to three years in total; thereby, facilitating access to much-needed trade working capital to SMEs. Increased Access to Financing for SMEs: Limited access to finance is considered a key constraint to private sector growth. Increased access to finance is indispensable to grow the competitiveness of SMEs. By directly financing the short term US$ liquidity needs of local banks to support SME trade and foreign currency working capital finance needs, the facility will support SMEs and will have a positive impact on economic activity in Armenia. UNIBANK OJSC Unibank closed joint-stock company 12 Charents str., N 53, N1-5 0025 Yerevan, Armenia Phone: (37410) 59-22-59, Fax: (37410) 55-51-40 International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Unibank closed joint-stock company 12 Charents str., N 53, N1-5 0025 Yerevan, Armenia Phone: (37410) 59-22-59, Fax: (37410) 55-51-40 Armenia The Bank conducts business throughout the Republic of Armenia (RA) through its head office and 44 and has a representative office in Moscow, the Russian Federation. The registered office of the Bank is located at: 12/53 Charents street, #1-5, Yerevan, RA. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AK - Commercial Banking - Trade and Supply Chain Total: $5.00 million 5000000.00 5000000.00 UNIBANK OJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33521/wcss-unibank-aslf XM-DAC-903-SII-33625 International Finance Corporation The proposed transaction aims to support FINCA UCO CJSC (Finca Armenia or the Company), a strong microfinance provider in Armenia, through a local currency loan which would facilitate resources for the Companys micro and small entrepreneurs (MSEs) portfolio expansion (the Project). Finca Armenia is a subsidiary of FINCA Microfinance Holding Company, LLC (FMH) a strategic IFC partner who promotes financial inclusion and access to financial services to the underserved, low-income people and communities through its twenty one subsidiaries in Africa, Latin America, Eurasia and the Middle East. The Project would aim to achieve various objectives: (i) provide funding for Finca Armenias MSEs portfolio growth; (ii) reduce foreign exchange and maturity risk by providing long term local currency funding; and (iii) strengthen the relationship with FINCA International and FMH by supporting its subsidiaries. IFC''s long-term financing is expected to bring high development impact by enhancing Finca Armenia''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction. FINCA UNIVERSAL CREDIT ORGANIZATION CJSC Hrach Tokhmakhyan Chief Financial Officer Tel: (37410) 545531 2a Agatangeghos str. Yerevan, Armenia International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Finca Armenias headquarters are based in Yerevan. The Companys distribution network is extensive, expanding throughout most regions in Armenia. The Company has 25 branches which serve both micro and small enterprise clients. Investments will be made throughout the country. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-HA - Microfinance and Small Business - Non Commercial Banking Total: $4.00 million 4000000.00 4000000.00 FINCA UNIVERSAL CREDIT ORGANIZATION CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33625/finca-armenia XM-DAC-903-SII-35418 International Finance Corporation The proposed transaction aims to support FINCA UCO CJSC (Finca Armenia or the Company), a strong microfinance provider in Armenia, through a local currency loan which would facilitate resources for the Companys micro and small entrepreneurs (MSEs) portfolio expansion (the Project). Finca Armenia is a subsidiary of FINCA Microfinance Holding Company, LLC (FMH) a strategic IFC partner who promotes financial inclusion and access to financial services to the underserved, low-income people and communities through its twenty two subsidiaries in Africa, Latin America, Eurasia and the Middle East. The Project would aim to achieve various objectives: (i) provide funding for Finca Armenias MSEs portfolio growth; (ii) reduce foreign exchange and maturity risk by providing long term local currency funding; and (iii) strengthen the relationship with FINCA International and FMH by supporting its subsidiaries. IFC''s long-term financing is expected to bring high development impact by enhancing Finca Armenia''s capacity to support productive micro enterprises, resulting in higher growth, employment generation and poverty reduction. FINCA UNIVERSAL CREDIT ORGANIZATION CJSC Hrach Tokhmakhyan General Director Tel: (37460) 465610 2a Agatangeghos str. Yerevan, Armenia International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 2a Agatangeghos str. Yerevan, Armenia Armenia Finca Armenias headquarters are based in Yerevan. The Companys distribution network is extensive, expanding throughout most regions in Armenia. The Company has 27 branches which serve both micro and small enterprise clients. Investments will be made throughout the country. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-HA - Microfinance and Small Business - Non Commercial Banking Total: $3.00 million 3000000.00 3000000.00 FINCA UNIVERSAL CREDIT ORGANIZATION CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35418/finca-armenia-2 XM-DAC-903-SII-37196 International Finance Corporation The proposed project comprises an IFC loan to Closed Joint Stock Company Inecobank (Inecobank) of up to US$20 million for up to five years (2-year grace period) to support Inecobanks acquisition of Closed Joint Stock Company ProCredit Bank Armenia (PCBA), thus promoting the first market-driven consolidation in Armenias banking sector and contributing to access to finance to small and medium enterprises (SME). IFCs loan will allow Inecobank to refinance PCBAs existing liabilities and extend its SME portfolio. The project is expected to contribute to private sector development in Armenia through increased small and medium enterprises'' access to finance. The proposed long-term financing is crucial for the sustainable development of the private sector across the country that would result in improved economic development and improved living conditions. INECOBANK CJSC Viktoria Ter-Sargisova Inecobank Financial Department / Investor Relations Management Division Head of Division17 Tumanyan str., Yerevan 0001, ArmeniaTel: (+374 10) 510 565, (+374 10) 510 510 Fax: (+374 10) 510 573 E-mail:-Viktoria.Ter-Sargisova@inecobank.am URL: http://www.inecobank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Inecobank conducts business throughout the Republic of Armenia through its head office in Yerevan and 16 branches (8 in Yerevan and 8 regional). Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AH - Commercial Banking - SME Finance Total: $20.00 million 20000000.00 20000000.00 INECOBANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/37196/ineco-sme-2015 XM-DAC-903-SII-37259 International Finance Corporation The proposed project is an investment package for Ameriabank CJSC (the Bank) of a total size of up to US$50 million, which consists of an up to US$50 million 6-year subordinated loan for general purposes and an up to US$10 million 7-year senior loan for on-lending to MSMEs, on IFCs own account. Long-term partnership: By providing capital support to its key partner Bank in Armenia, IFC is better placed to help the Bank to sustain difficult economic conditions and to reach its strategic goal to become an attractive institution for investors, eventually gaining access to liquid and well regulated capital markets. Long-term funding: By providing long-term funding which is scarce to find in the market now, IFC helps the Bank to grow its business and increase access to finance for Armenian customers Environmental and social standards: IFC would help Ameriabank improve their capacity in the areas of environmental and social management AMERIABANK CJSC Ara Sargsyan Head, Corporate Finance Unit Investment Banking Department Ameriabank cjsc 9 Grigor Lusavorich str. Yerevan 0015, Armenia Tel.: (+37410) 56 11 11Fax: (+37410) 51 31 33E-mail: Ara Sargsyan < mailto:ara.sargsyan@ameriabank.am >URL: ameriabank.am/ International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Bank has its Head Office in Yerevan and ten branches from which it conducts business throughout Republic Armenia. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AA - Commercial Banking - General Total: $60.00 million 60000000.00 60000000.00 AMERIABANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/37259/ameria-subl-ii XM-DAC-903-SII-37652 International Finance Corporation The proposed project involves a US$150 million debt financing package for ContourGlobal Hydro Cascade CJSC (the Company, an existing IFC investee company) in Armenia. In July 2015, the Company acquired the 404.2MW Vorotan cascade hydropower generation plants in southern Armenia, including the 76MW Spandaryan (commissioned in 1989), the 171MW Shamb (commissioned in 1979) and the 157.2MW Tatev (commissioned in 1970) plants along the Vorotan River (together, the Vorotan Cascade). The Vorotan Cascade is among the main power generation complexes in Armenia, providing both peak and base load generation, and performing grid stabilization services. The Vorotan Cascade is supported by a system of five reservoirs: Spandaryan, Angeghakot, Tolors, Shamb and a daily regulation reservoir.  The US$150 million debt financing will include a proposed IFC A Loan and mobilization through an IFC B Loan and/or parallel loans. The purpose of the debt is to primarily finance the second installment of the acquisition and repayment of bridge financing. The project''s positive development impact includes: (i) budgetary support to the GoA through the acquistion payment; (ii) bringing in international standards to manage power assets through an experienced operator; and (iii) positive climate change impacts through efficiency enhancements, often the lowest cost option for greenhouse gas abatement. CONTOURGLOBAL HYDRO CASCADE CJSC Ara Hovsepyan Chief Executive Officer ContourGlobal Hydro Cascade CJSC 2/2 Melik Adamyan str., Yerevan, Armenia, 0010 Telephone: +374 93 000-311 Email:  mailto:ara.hovsepyan@contourglobal.com International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 ContourGlobal Hydro Cascade CJSC2/2 Melik Adamyan str., Yerevan, Armenia, 0010 Armenia The Project is located along the Vorotan River in southern Armenia. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 V-BA - Large Hydro - Renewable Energy Generation Total: $52.90 million 2900000.00 50000000.00 2900000.00 CONTOURGLOBAL HYDRO CASCADE CJSC 50000000.00 CONTOURGLOBAL HYDRO CASCADE CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/37652/vorotan-debt XM-DAC-903-SII-39630 International Finance Corporation p.cls-NormalWeb { margin-top:5pt; margin-bottom:5pt; text-align:left; font-family:'Times New Roman', 'serif'; font-size:12pt; line-height:108%; margin-left:0pt; margin-right:0pt; } span.cls-DefaultParagraphFont { font-family:'Times New Roman', 'serif'; font-size:12pt; font-weight:normal; margin:0in; padding:0in; } table { border-collapse:collapse !important; width:100%; table-layout:fixed; border-spacing:0 !important; margin-bottom:15px; } .k-table, .k-table td, table, table td, div table, div table td {outline: 0;border: 1px solid #000;} .k-table td, table td, div table td { padding: 5px;}   The proposed investment involves a US$204 million debt financing package to ArmPower (the Company). It will be used to finance the construction of a 250MW greenfield combined-cycle gas turbine (CCGT) power plant with an estimated project cost of US$272 million in Yerevan, Armenia (the Project).  The Project's positive development impact includes: (i) replacement of a highly-inefficient and depreciated power generation asset with a high-efficiency CCGT; (ii) helping the Armenian power sector reduce natural gas cost and ensuring reliable power supply in Armenia; and (iii) further strengthening the Armenian power sector by diversifying the investor base and increasing private sector participation. ARMPOWER CSJC ArmPower CJSC Christian Cucurachi Director +374 10 590799 cristian.cucurachi@renco.it Vazgen Sargsyan Street 10, Kentron, 00010 Yerevan - International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 p.cls-NormalWeb { margin-top:5pt; margin-bottom:5pt; text-align:left; font-family:'Times New Roman', 'serif'; font-size:12pt; line-height:108%; margin-left:0pt; margin-right:0pt; } span.cls-DefaultParagraphFont { font-family:'Times New Roman', 'serif'; font-size:12pt; font-weight:normal; margin:0in; padding:0in; } table { border-collapse:collapse !important; width:100%; table-layout:fixed; border-spacing:0 !important; margin-bottom:15px; } .k-table, .k-table td, table, table td, div table, div table td {outline: 0;border: 1px solid #000;} .k-table td, table td, div table td { padding: 5px;}    Vazgen Sargsyan Street 10, Kentron, 00010 Yerevan  Armenia p.cls-NormalWeb { margin-top:5pt; margin-bottom:5pt; text-align:left; font-family:'Times New Roman', 'serif'; font-size:12pt; line-height:108%; margin-left:0pt; margin-right:0pt; } span.cls-DefaultParagraphFont { font-family:'Times New Roman', 'serif'; font-size:12pt; font-weight:normal; margin:0in; padding:0in; } table { border-collapse:collapse !important; width:100%; table-layout:fixed; border-spacing:0 !important; margin-bottom:15px; } .k-table, .k-table td, table, table td, div table, div table td {outline: 0;border: 1px solid #000;} .k-table td, table td, div table td { padding: 5px;}   The Project will be located in the south of Yerevan, adjacent to the existing Yerevan Thermal Power Plant. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 V-AB - Gas - Thermal Power Generation Total: $65.00 million 3000000.00 62000000.00 3000000.00 ARMPOWER CSJC 62000000.00 ARMPOWER CSJC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/39630/yerevan-ccgt XM-DAC-903-SII-41106 International Finance Corporation The proposed investment involves a senior loan of up to US$11 million to FRV Masrik CJSC. It will be used to finance the development, construction, operation and maintenance of a 55MWac/62MWp solar photovoltaic (PV) plant located in the municipality of Mets Masrik, Armenia. The PV plant will be connected to the national grid through a 9.2km 110kV high voltage overhead transmission line also financed as part of the Project. The Project is expected to be commissioned in 2021 and will sell electricity based on a 20-year tariff Power Purchase Agreement entered into with the private offtaker, Electric Networks of Armenia. The project's development impact includes: (i) Reduction of GHG emissions, by increasing the share of electricity supply from renewable sources, (ii) Improving energy security and lowering generation costs, by reducing the country's reliance on imported fuels for power generation, and (iii) Further strengthening competitiveness of the sector, by supporting the development of the first competitively tendered utility-scale solar IPP in the country. FRV MASRIK CJSC Fotowatio Renewable Ventures Cyril Perrotey Senior Business Development Manager +971 4 2495633 cyril.perrotey@frv.com Units 1403-1404, 14th Floor,Jumeirah Business Center 1,Cluster G, Jumeirah Lakes Towers P.O. Box, 392632 Dubai, United Arab Emirates www.frv.com International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 0 0 0 0 0 0 0 0 0.0000 Armenia Renewable Resources and Energy Efficiency (R2E2) Fund Sayat - Nova 29/1 S treet Yerevan, Armenia Armenia The Project is located in the municipality of Mets Masrik, in the Gegharkunik Marz region, Armenia, approximately 170km east of capital city of Yerevan, 11km west of the border with Azerbaijan and 7km from Lake Sevan. The site for the power plant consists of two parts of land plot with a total area of roughly 130ha. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 V-BF - Solar - Renewable Energy Generation Total: $14.40 million 500000.00 13900000.00 500000.00 FRV MASRIK CJSC 13900000.00 FRV MASRIK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/41106/masrik-solar XM-DAC-903-SII-41106 International Finance Corporation The proposed investment involves a senior loan of up to US$11 million to FRV Masrik CJSC. It will be used to finance the development, construction, operation and maintenance of a 55MWac/62MWp solar photovoltaic (PV) plant located in the municipality of Mets Masrik, Armenia. The PV plant will be connected to the national grid through a 9.2km 110kV high voltage overhead transmission line also financed as part of the Project. The Project is expected to be commissioned in 2021 and will sell electricity based on a 20-year tariff Power Purchase Agreement entered into with the private offtaker, Electric Networks of Armenia. The project's development impact includes: (i) Reduction of GHG emissions, by increasing the share of electricity supply from renewable sources, (ii) Improving energy security and lowering generation costs, by reducing the country's reliance on imported fuels for power generation, and (iii) Further strengthening competitiveness of the sector, by supporting the development of the first competitively tendered utility-scale solar IPP in the country. FRV MASRIK CJSC Fotowatio Renewable Ventures Cyril Perrotey Senior Business Development Manager +971 4 2495633 cyril.perrotey@frv.com Units 1403-1404, 14th Floor,Jumeirah Business Center 1,Cluster G, Jumeirah Lakes Towers P.O. Box, 392632 Dubai, United Arab Emirates www.frv.com International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 0 0 0 0 0 0 0 0 0.0000 Armenia Renewable Resources and Energy Efficiency (R2E2) Fund Sayat - Nova 29/1 S treet Yerevan, Armenia Armenia The Project is located in the municipality of Mets Masrik, in the Gegharkunik Marz region, Armenia, approximately 170km east of capital city of Yerevan, 11km west of the border with Azerbaijan and 7km from Lake Sevan. The site for the power plant consists of two parts of land plot with a total area of roughly 130ha. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 V-BF - Solar - Renewable Energy Generation Total: $14.40 million 500000.00 13900000.00 500000.00 FRV MASRIK CJSC 13900000.00 FRV MASRIK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/41106/masrik-solar XM-DAC-903-SII-41216 International Finance Corporation   Electricity Networks of Armenia (ENA or the Company) is the electricity distribution company operating across Armenia. It serves approximately 1 million customers. The Company is implementing a long-term 2017-2027 investment program aimed to modernize and rehabilitate its electricity distribution network. The proposed IFCs investment will support the Companys 2020-2021 capital expenditures and will help improving the quality and reliability of the distribution network.                                                   The most significant project level outcomes are the improved quality of electricity supply and reduced grid emissions, through the modernization of key distribution assets and equipment. At the market level, IFC anticipates the Project will improve resilience of electricity supply by reducing distribution losses and introducing ICT solutions that enable ENA to improve their monitoring of the network. ELECTRIC NETWORKS OF ARMENIA CJSC Electricity Networks of Armenia Armen Arshakyan CFO +37477774000 arshakyan_AS@ena.am 127, Armenakyan street Yerevan, Armenia, 0047 www.ena.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 0 0 0 0 0 0 0 0 0.0000     Mr. Armen Arshakyan , the CFO Address: 127, Armenakyan street Yerevan, Armenia, 0047 Tel: +37477774000 Email: arshakyan_as@ena.am                                                                                                 Armenia   The Company is headquartered in Yerevan and carries out electricity distribution services across Armenia.                                                   Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 V-EA - Distribution Business Total: $60.00 million 60000000.00 60000000.00 ELECTRIC NETWORKS OF ARMENIA CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/41216/ena-2020-project XM-DAC-903-SII-44005 International Finance Corporation The Project consists of a senior loan of up to US$20 million to Inecobank CJSC (Inecobank). The loan to Inecobank would be under WBG Fast Track COVID-19 Facility, in particular IFCs Financial Institutions Response Envelope. The loan consists of two tranches. The purpose of the loan is on-lending to MSMEs. Many of Inecobanks MSME-clients face lower revenues, higher costs, supply disruptions, complicated inventory management, and pricing power erosion resulting from the COVID19 outbreak. Therefore, they need working capital liquidity as short-term bridge financing to continue operating, providing vital employment, goods, and services, and generating tax revenues. Inecobank is the fifth-largest bank in Armenia, established in 1996 and is the third largest provider of SME loans in Armenia. IFC will support its clients' capacity to sustain operations during this acute shock, IFC will provide access to finance Inecobank's MSME clients to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning activity. INECOBANK CJSC Inecobank CJSC Hayk Voskanyan CFO +37410510510 Hayk.Voskanyan@inecobank.am Head Office 17 Tumanyan Street Yerevan, Armenia www.inecobank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia  Armenia, Yerevan Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AK - Commercial Banking - Trade and Supply Chain Total: $20.00 million 20000000.00 20000000.00 INECOBANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44005/wcs-covid-ineco XM-DAC-903-SII-43953 International Finance Corporation The proposed investment consists of a senior loan of up to US$20 million under IFCs Working Capital Solutions (WCS) to Evocabank, a new potential client in Armenia, to support lending to the Banks MSME clients. The proposed loan is U.S. Dollars denominated and has a one-year tenor with a renewal option up to two times at IFCs discretion for the maximum aggregate tenor of three years. The proposed investment will alleviate the pressure on short term cash requirements for MSMEs that are negatively affected by the COVID-19 pandemic as well as help them to sustain current employment levels by providing them financing for working capital needs. Evocabank with its presence and expertise in MSME segment and its leading position in the MSME digital space is a well-suited partner for IFC to reach out to MSMEs during this crisis.                                                   The Project is expected to provide and sustain access to finance for MSMEs affected by the COVID-19 pandemic in Armenia, as well as promote greater MSME market resilience by sustaining access to working capital for MSMEs during and post-pandemic time. EVOCABANK OPEN JOINT STOCK COMPANY Evocabank Closed Joint Stock Company Karen Yeghiazaryan Chairman of Management Board +374 10 60 55 55 Karen.Yeghiazaryan@evocabank.am 44/2 Hanrapetutyan Street 0010 Yerevan, Armenia evocabank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia  Armenia                                                   Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AH - Commercial Banking - SME Finance Total: $20.00 million 20000000.00 20000000.00 EVOCABANK OPEN JOINT STOCK COMPANY Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/43953/evoca-wcs-loan XM-DAC-903-SII-45195 International Finance Corporation The proposed investment consists of a senior loan of up to US$20 million to TEAM LLC, a company that was incorporated in Armenia in April 2020 and its wholly owned subsidiary, Telecom Armenia CJSC (former VEON Armenia), a mobile network operator and internet service provider in Armenia which operated as Beeline and will be rebranded to team (collectively the Group). The Group is seeking to refinance an existing debt facility and obtain additional financing for capex and network expansion via a long-term debt financing package of US$60 million. The Project has an Anticipated Impact Measurement and Monitoring (AIMM) rating of  Satisfactory .   Project Outcomes:  Increased access to quality broadband Internet for individuals and businesses. Based on the standalone capex plan to upgrade mobile and fixed network, a preliminary assessment suggests " Strong " Project Outcomes, with a risk of a  Moderate  rating if savings are not reinvested or if there is no addition with respect to the current capex plan. The gap in access to quality broadband Internet in Armenia is expected to be Medium as, compared to other emerging markets, penetration and download speed of fixed or mobile broadband is on par with regional or income-group averages. Without the refinancing component, the Company may not be able to expand beyond its historical investment trend. The refinancing is expected to generate savings that, if reinvested, can support network expansion and upgrade as well as expand international connectivity. The magnitude of these outcomes will be explored in appraisal and depends on: the degree of commitment to reinvest the savings, and how these will be invested; and the incremental nature of this investment compared to the existing capex plan.   Market Creation  - Subject to evidence about the expected increase in high-speed broadband coverage beyond the Company, a preliminary assessment suggests " Moderate " Contribution to Market Creation. Increased integration by strengthening international connectivity linkages or enabling digital platforms may be considered post appraisal. Increased competitiveness of the market for broadband Internet access by preserving trends in network upgrade via innovation and competition channels. The market for broadband Internet access in Armenia is fairly developed with a number of large fixed and mobile broadband operators providing affordable service within an effective regulatory framework. However, technological innovation remains limited beyond the market leader as other operators mainly rely on legacy technologies (3G and ADSL). By supporting an expansion of 4G and fiber-optic network by the Company, this investment has the potential to maintain competitive pressure on other market players to continue upgrading their networks, thereby preserving the trends in broadband quality improvement in the Armenian broadband sector. TELECOM ARMENIA OJSC Telecom Armenia Arpine Chalkyan Head of Project Management +374 95 988 723 arpine.chalkyan@telecomarmenia.am Azatutyan Ave., 24/1 Building, 0014, Yerevan, Armenia https://www.beeline.am/en/ International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 0 0 0 0 0 0 0 0 0.0000   Arpine Chalkyan, Azatutyan Ave., 24/1 Building, 0014, Yerevan, Armenia arpine.chalkyan@telecomarmenia.am +374 95 988 723   Armenia TEAM LLC and Telecom Armenia are headquartered in Yerevan and operate in the Republic of Armenia Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 N-AC - Mobile Telephony Total: $20.00 million 20000000.00 20000000.00 TELECOM ARMENIA OJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45195/telecom-armenia-cjsc XM-DAC-903-SII-46617 International Finance Corporation  The proposed IFC investment is a three-year senior loan of up to US$15 million to Evocabank (the Bank) to support its lending to micro, small and medium enterprises (MSMEs) (the Project). Improved access to finance for SMEs: The Project will increase access to finance for MSMEs to support economic activity. Market creation. Resilience: The Project will strengthen IFCs efforts to foster resilience amongst banks and MSME finance providers in Armenia by helping the market deal with the continuing uncertainty and catalyzing investor response. EVOCABANK OPEN JOINT STOCK COMPANY "Evocabank Closed Joint Stock Company Karen Yeghiazaryan Chairman of Management Board +374 10 60 55 55 Karen.Yeghiazaryan@evocabank.am 44/2 Hanrapetutyan Street 0010 Yerevan, Armenia www.evocabank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia  Evocabank is headquartered in Yerevan, Armenia and operates through its network of thirteen branches in the country. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AH - Commercial Banking - SME Finance Total: $15.00 million 15000000.00 15000000.00 EVOCABANK OPEN JOINT STOCK COMPANY Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/46617/bop-evocabank XM-DAC-903-SII-48790 International Finance Corporation   The proposed project involves up to US$150 million debt refinancing package for ContourGlobal Hydro Cascade CJSC (the Company, an existing IFC investee company) in Armenia. In July 2015, the Company acquired the 404.2MW Vorotan cascade hydropower generation plants in southern Armenia, including the 76MW Spandaryan HPP (commissioned in 1989), the 171MW Shamb HPP (commissioned in 1978) and the 157.2MW Tatev HPP (commissioned in 1970) plants along the Vorotan River (together, the Vorotan Cascade). In 2016, IFC arranged a US$140mn financing package to refinance the second instalment of the privatization (#37652, summary of the investment: https://disclosures.ifc.org/project-detail/ESRS/37652/vorotan-debt ). The Vorotan Cascade is among the main power generation complexes in Armenia, providing both peak and base load generation, and performing grid stabilization services. The Vorotan Cascade is supported by a system of four reservoirs: Spandaryan, Angeghakot, Tolors, Shamb and a Tatev daily regulation pond. The new financing is aimed to re-leverage the Company, and through doing so support new modernization investments and free up liquidity for renewable energy (RE) pipeline in emerging markets. The development impact includes: (i) redeployment of released cash for renewable energy investments in carbon-intensive emerging markets and reduction of GHG emissions, and (ii) strengthening resilience of a critical power generation asset in Armenia, which is expected to enhance reliability of supply, preserve stability of the power system, and facilitate future deployment of renewable energy in the energy mix. CONTOURGLOBAL HYDRO CASCADE CJSC ContourGlobal Hydro Cascade CJSC Alvina Abajyan General Manager +374 95 017 102 alvina.abajyan@contourglobal.com 2/2 Melik Adamyan str., Yerevan, Armenia, 0010 https://www.contourglobal.com/ International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 0 0 0 0 0 0 0 0 0.0000   ContourGlobal Hydro Cascade CJSC 2/2 Melik Adamyan str., Yerevan, Armenia, 0010. Armenia The Project consists of three operational hydropower plants on the Vorotan River in southern Armenia. The Vorotan River flows for 119km through a mountainous area in southern Armenia and then for another 59km through Azerbaijan, before joining the Araks River at the Iran border. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 V-BA - Large Hydro - Renewable Energy Generation Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/48790/vorotan-refi XM-DAC-903-SII-49805 International Finance Corporation  The proposed investment to Evocabank Closed Joint Stock Company (Evocabank or the Bank) comprises of a Financing Package of: (i) an up to US$20 million senior A Loan on IFC own account in two equal tranches, and (ii) a B Loan of up to US$10 million to be disbursed after the first tranche of the A Loan. Additionally, the Project includes a trade finance guarantee facility under GTFP with a limit up to US$2 million (the Project). The proceeds of the Financing Package will be earmarked for financing micro, small and medium enterprises (MSMEs) with up to 50 percent of the proceeds dedicated to eligible climate related projects and 25 percent for financing women led enterprises.                                                   The most significant expected project-level outcome is the increased access MSME finance with a focus on W-MSMEs, and increased access to climate finance. Beyond the Projects outcomes, IFC anticipates that the proposed investment will promote climate sustainability through the capacity building, demonstration and replication channels by fostering the development of climate finance in Armenia. EVOCABANK OPEN JOINT STOCK COMPANY Evocabank CJSC Sahak Khachikyan Head of International Funding Attraction Division +37410605555 (1621) Sahak.khachikyan@evoca.am 44/2 Hanrapetutyan Steet, 0010 Yerevan, Armenia www.evoca.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia  The Bank is headquartered in Yerevan, Armenia and provides online and mobile banking solutions for its retail, MSME and corporate clients. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AA - Commercial Banking - General Total: $20.00 million 20000000.00 20000000.00 EVOCABANK OPEN JOINT STOCK COMPANY Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/49805/mfpsme-evoca-climate XM-DAC-903-SII-50088 International Finance Corporation  The proposed investment consists of an up to US$250 million senior unsecured loan to be disbursed in US$ or Armenian Dram (AMD) equivalent for IFCs own account to Ameriabank CJSC (Ameriabank or the Bank), one of the top 2 banks in Armenia and an existing IFC client. The loan will have a 5 to 7 years maturity, and the investment proceeds will be earmarked for financing micro, small and medium enterprises (MSMEs) with 50 percent of proceeds to be allocated to eligible climate finance projects. The most significant expected project-level outcome is the increased access to MSME finance and climate finance. Beyond the Projects outcomes, IFC anticipates that the proposed investment will promote climate sustainability through the capacity building, demonstration and replication channels by fostering the development of climate finance in Armenia. AMERIABANK CJSC Ameriabank CJSC Vahagn Ghuloyan Vice President, Financial Institutions +37477903643 Vahagn.ghuloyan@ameriabank.am 2 V.Sargsyan Str., Yerevan, 0010, RA www.ameria.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia  The Bank is headquartered in Yerevan, Armenia and provides banking solutions for its retail, MSME and corporate clients. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AA - Commercial Banking - General Total: $200.00 million 200000000.00 200000000.00 AMERIABANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/50088/ameria-climate XM-DAC-903-SII-50196 International Finance Corporation  The proposed investment consists of an unfunded risk sharing facility (RSF) with Converse Bank for a portfolio of loans to small and medium enterprises (SMEs) in the amount of up to US$10 million in Armenia, where IFCs risk participation will be up to US$5 million, or 50% of the aforementioned SME loan portfolio (the Project).The Project will be processed under IFCs Small Loans Guarantee Program (the Program), a programmatic approach to derisk and scale up financing for SMEs in Armenia and other eligible countries. The Program will benefit from a pooled first loss guarantee provided by the European Commission (EC) via European Fund for Sustainable Development (the EFSD) and the IDA IFC-MIGA Private Sector Windows Blended Finance Facility (IDA PSW-BFF) (SLGP EC/PSW), which will help enable the Bank lending to the underserved SMEs in Armenia and at rates that are affordable. The Project is expected to contribute to increased access to finance for SMEs in Armenia, including women-owned businesses and SMEs operating in agriculture sector, and help narrow the SME finance gap in the country. At a market level, the Project will promote the competitiveness of the SME finance market in Armenia. Access to finance for SMEs in Armenia is constrained mainly by perceived risk and hard collateral requirements by financial intermediaries. IFCs provision of a risk mitigation tool will relax the collateral constraint and increase the risk appetite of the Bank. IFC anticipates that this investment will demonstrate the effectiveness of RSFs in mitigating the credit risk of SMEs and the business case for SME lending, spurring other financial institutions to replicate lending to WSMEs and agribusinesses. SLGP EC Converse Converse Bank CJSC Lusine Balanyan Head of Investor Relations and Strategy conversebank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Bank is headquartered in Yerevan, Armenia and provides universal banking services across the country.                                                  Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AE - Commercial Banking - Risk Mgmt Facility Total: $5.00 million 5000000.00 5000000.00 SLGP EC Converse Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/50196/slgp-ec-converse XM-DAC-903-SII-50308 International Finance Corporation The proposed project consists of an unfunded Risk Sharing Facility (RSF) to Acba Bank OJSC (Acba Bank or the Bank), a commercial bank in Armenia with strong focus on agriculture sector. IFC will cover 50% of an up to US$50 million equivalent portfolio consisting of eligible loans to small and medium enterprises (SMEs), resulting in an IFC exposure of up to US$25 million equivalent. The RSF will support the Bank in expanding its SME-lending operations, enhancing access to finance for SMEs in Armenia, including women-owned businesses, agriculture and rural enterprises, and SMEs involved in health and education activities. The Project is expected to contribute to increased access to finance for SMEs in Armenia, including women-owned businesses and SMEs operating in agriculture sector, and help narrow the SME finance gap in the country. At a market level, the Project will promote the competitiveness of the SME finance market in Armenia. Access to finance for SMEs in Armenia is constrained mainly by perceived risk and hard collateral requirements by financial intermediaries. IFCs provision of a risk mitigation tool will relax the collateral constraint and increase the risk appetite of the Bank. IFC anticipates that this investment will demonstrate the effectiveness of RSFs in mitigating the credit risk of SMEs and the business case for SME lending, spurring other financial institutions to replicate lending to WSMEs and agribusinesses. SLGP EC Acba Acba Bank OJSC Syuzana Tumoyan Investor Relations Syuzana.Tumoyan@acba.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Republic of Armenia Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AE - Commercial Banking - Risk Mgmt Facility Total: $25.00 million 25000000.00 25000000.00 SLGP EC Acba Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/50308/slgp-ec-acba XM-DAC-903-SII-50364 International Finance Corporation The proposed investment will support Telecom Armenia OJSC (Telecom Armenia or Company, https://www.telecomarmenia.am/en/about-us/), an existing IFC client, in issuance of a senior unsecured sustainability-linked bond (the SLB) in the amount of up to US$75 million, to be listed on the Armenia Stock Exchange. Telecom Armenia is the second largest mobile network operator (MNO) and internet service provider in Armenia. The Company operates under the brand name Team and is publicly listed on Armenia Stock Exchange since October 2023. The SLB proceeds are expected to be used to: (i) refinance the Companys current loans; (ii) finance the Companys investments in advanced technologies (such as 4G+ and Fiber to the Home) to meet the growing demand for faster data services, expand its coverage throughout Armenia, densify its network and improve customer service; and (iii) strengthen the Companys competitive position in the Armenian telecom market.                                              The project is expected to increase the capacity of the Company to improve access to quality mobile broadband for individuals and businesses in Armenia through the deployment of fiber and 4G+ infrastructure. A portion of the SLB proceeds will go towards refinancing of existing debt enabling the Company to free up cash flow that will be used to fund its annual CAPEX program. The project will support the integration of the capital market in Armenia via the issuance of the first SLB. The success of this transaction will demonstrate the viability of the SLB asset class that will support private companies to raise funds from various investors as well as improve their environmental impact through the achievement of sustainable targets linked to this financing method. TELECOM ARMENIA OJSC Telecom Armenia OJSC Arpine Chalkyan Head of Strategic Programs +374 95 988 723 arpine.chalkyan@teamgroup.am Azatutyan Ave. 24/1 Building, 0014, Yerevan, RA https://www.telecomarmenia.am/en/about-us/ International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 0 0 0 0 0 0 0 0 0.0000                   Telecom Armenia OJSC, 24/1, Azatutyan Ave., 0014, Yerevan, Republic of Armenia                                                                                     Armenia TEAM and Telecom Armenia are headquartered in Yerevan and operate in the territory of Armenia.                                             Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 N-AC - Mobile Telephony Total: $15.00 million 15000000.00 15000000.00 TELECOM ARMENIA OJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/50364/ta-bond-2024 XM-DAC-903-SII-50722 International Finance Corporation The project is an unfunded trade finance facility to Converse Bank OJSC (Converse Bank or the Bank or the Issuing Bank) in an aggregate amount of approximately US$5 million under IFCs Global Trade Finance Program (GTFP) in the form of a trade line pursuant to which IFC would guarantee letters of credit and other trade instruments issued by the Bank to support the Banks trade program. The GTFP proposed investment will offer Confirming Banks partial or full guarantees covering payment risk of the Bank in Armenia for their trade-related transactions.                                                   The Project builds on the GTFP global platform, increasing access to trade finance to emerging markets. The Project will provide increased access to trade finance to the Issuing Bank's customers, including both corporates and SMEs. On the market side, the Project will further connect the Issuing Bank's cross border connections, increasing the country's integration through both financial and real sector channels. It will help to link more traders to other countries and connect the country's financial markets more deeply. Converse Bank CJSC Converse Bank CJSC Nelli Kocharyan Head of Financial Institutions and International Banking Relations nelli.kocharyan@conversebank.am https://www.conversebank.am/ International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Bank is headquartered in Yerevan, Armenia and provides universal banking services across the country.                                                   Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AD - Commercial Banking - Trade Total: $7,000.00 million 7000000000.00 7000000000.00 Converse Bank CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/50722/gtfp-converse XM-DAC-903-SII-50709 International Finance Corporation  The project is an unfunded trade finance facility to Acba Bank OJSC (Acba Bank or the Bank or the Issuing Bank) in an aggregate amount of approximately US$5 million under IFCs Global Trade Finance Program (GTFP) in the form of a trade line pursuant to which IFC would guarantee letters of credit and other trade instruments issued by the Bank to support the Banks trade program. The GTFP proposed investment will offer Confirming Banks partial or full guarantees covering payment risk of the Bank in Armenia for their trade-related transactions. The Project builds on the GTFP global platform, increasing access to trade finance to emerging markets. The Project will provide increased access to trade finance to the Issuing Banks customers, including both corporates and SMEs. On the market side, the Project will further connect the Issuing Banks cross border connections, increasing the countrys integration through both financial and real sector channels. It will help to link more traders to other countries and connect the countrys financial markets more deeply. ACBA BANK OJSC Acba Bank OJSC Anzhelika Baghramyan Head of Assets and Liabilities Management Division Anzhelika.Baghramyan@acba.am https://www.acba.am/en/ International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia  Republic of Armenia Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 O-AD - Commercial Banking - Trade Total: $7,000.00 million 7000000000.00 7000000000.00 ACBA BANK OJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/50709/gtfp-acba-bank XM-DAC-903-SPI-9337 International Finance Corporation Summary Of Project Information (SPI) Project Name: Armenia: Hotel Armenia Region:Europe II Sector:Hotel and Tourism Project No:009337 Projected Board Date:July 16, 1999 Company Name:Hotel Armenia Sponsor and Technical Partner The Hotel Armenia project is a US$36.5 million project sponsored by AK Development (AK), a business development company founded by several Armenian-American investors (the Sponsors). AK has already purchased an 80% stake in Hotel Armenia from the Armenian Government through a privatization tender managed by Merrill Lynch. The remaining 20% of the Company is still owned by the Government. Hotel Armenia (the Company) will be managed and partially financed by Marriott International, Inc., one of the worlds leading hospitality companies with over 1,800 operating units in the US and 53 other countries. In 1998, Marriott reported net income of US$390 million. Marriott owns several other well-known brands including Ritz-Carlton Hotels, Renaissance hotels, Ramada International and Courtyard by Marriott. Marriott already has a significant presence in Central and Eastern Europe, including hotels in Moscow, Warsaw, Prague and Budapest. Project Cost Including proposed IFC investment Total Project Cost is estimated at US$36.5 million. The Sponsors have requested IFC invest up to US$4 million for up to a 25% equity interest in the Hotel Armenia. Location of project and Description of site The buildings that will house the renovated hotel are located in central Yerevan, Armenia on Republic Square, next to a city business center and government buildings. Description of Company and Purpose of Project Hotel Armenia is currently the primary hotel in Yerevan. The project Sponsors plan to renovate the hotel to create a 223 room western-standard facility managed by Marriott. Hotel Armenia will be the first international-standard hotel in the Country. The viability of a 223-room business hotel in Yerevan is warranted by increased air traffic and business opportunities in Armenia. The prime location of the hotel will give it an advantage over potential competitors. The Project will substantially benefit from Marriott''s operating experience and its commitment to the project. The Hotel Armenia project will constitute IFCs first investment in Armenia. The project will facilitate international business development in Armenia by providing business travelers with international-standard accommodations. IFCs involvement in the project is central to raising needed equity and debt financing, insuring a proper structuring of the transaction and assuring the Armenian Government of the benefits of and backing for the project. IFCs involvement in a project in Armenia will have a significant demonstration effect, and therefore assist Armenias efforts to facilitate other foreign direct investments in the country. Finally, IFC will play an important role in facilitating the governments privatization program by investing in one of the first large privatized companies in Armenia. Environmental Category and Issues This is a category B project according to IFC''s environmental and social review procedure. Environmental issues associated with this project include sewage and liquid effluents, solid waste, asbestos and PCB removal, water and power supply, and CFCs. Health and safety issues include fire protection, employee safety training and emergency response. The sponsor will dispose of all liquid effluent and sewage through the municipal treatment plant who have confirmed they have the capacity to treat effluent to meet local standards. Water and power will also be supplied by the local grid. Potable water will be treated on site to meet WHO standards. The sponsor has committed to provide IFC with an asbestos and PCB removal and disposal plan, for IFC''s clearance, prior to implementation of these respective plans. Solid waste will be disposed of at the municipal landfill. An independent fire safety audit of the hotel has been completed and all recommendations in this audit will be implemented by the sponsor. With respect to employee safety the sponsor will follow Marriott Corporate procedures. The is from the InfoShop. Host country location of environmental documents Armenia Date SPI sent to InfoShop: June 16, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html). ARMENIA HOTEL COMPLEX ZAO International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - City and Business Hotel Total: $3.60 million 3600000.00 3600000.00 ARMENIA HOTEL COMPLEX ZAO Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9337/hotel-armenia XM-DAC-903-SPI-11403 International Finance Corporation The Armenian financial system is very small, with the banking system (by far the largest component) accounting for assets equivalent to only 20 percent of GDP. Unless the financial infrastructure is strengthened, the financial system is unlikely to be able to deliver the growth-generating financial services that Armenia urgently needs. The project involves the creation of AL the first joint venture leasing company in Armenia. AL will provide much needed access to medium and long term financing for viable small and medium companies in Armenia. The strategic alliance of ACBA, one of the leading Armenian banks, with a reputable and experienced technical partner such as CAG/Ucabail, will ensure that the AL becomes an operationally professional and commercially viable leasing company that will pioneer the leasing industry in Armenia. IFC has played a pivotal role in this project, most importantly : · Conducted initial assessments and studies of the legal, regulatory and market environments for leasing and advised the government on the necessary regulatory changes to enable the establishment of the leasing industry · Brought together the essential foreign and local partners · Helped develop the innovative project concept with a successful mix of equity investors, technical assistance provider and a very strong local sponsor. The project will have crucial developmental benefits for Armenia: Development of financial infrastructure. Establishment of the first commercial leasing institution is an essential systemic development for the emerging financial sector in Armenia. The AL by virtue of its successful launch of operations will demonstrate how efficient use of modern financial instruments enable adaptation of the financial intermediaries to the growing needs of the private sector. Private sector development . Access to leasing will enable small and medium-sized enterprises, the most dynamic segment of the Armenian economy, to expand their production facilities. Leasing will introduce a viable alternative to loans for the smaller enterprises without the need for compliance with extensive collateral requirements. Many of the new investments in assets will simply not occur in the absence of leasing. Thus, the project will expand the overall amount of credit to the Armenian industry as well as facilitate the transfer of efficiency-enhancing technologies and business management techniques to potential lessees. Poverty Alleviation. Indirect developmental effects of the project are significant since investment in small and medium scale enterprises will have a significant multiplier effect on several vast groups of their downstream suppliers, such as farmers. Small and medium enterprises are the major source of new employment and growth in Armenia. Foreign exchange earnings : The project is expected to expand domestic production, and thereby reduce the need to import; and will help over time to lower the demand for foreign exchange. Moreover, due to the limited size of the Armenian market, a substantial part of ALs clients would be potential exporters, who will acquire new technology and equipment to become more competitive for exports of their products and services. ACBA Leasing Credit Organization CJSC Mr. Stepan Gishyan, General Manager ACBA Tel: (3741) 56 58 58 Fax (3741) 15 17 55 Email: acba@arminco.com International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The AL will be headquartered in Yerevan, Armenia. Utilizing the existing network of regional branches of the local partner ACBA bank, the AL will be able to successfully access all regions of Armenia. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 LB - Leasing Services Total: $2.27 million 2000000.00 270000.00 2000000.00 ACBA Leasing Credit Organization CJSC 270000.00 ACBA Leasing Credit Organization CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11403/armenia-leasing-company XM-DAC-903-SPI-22531 International Finance Corporation Armeconombank (AEB or the bank) is one of the largest, privately controlled banks in Armenia and is the successor of Zhilsotzbank, one of the former state-owned banks. It is the 4th largest bank in Armenia in terms of assets, with 24 branches across the country and 450 employees. Today the bank focuses on serving SMEs, retail clients, and financial institutions. AEB had the net worth of approximately $5.3 million and total assets of approximately $33.4 million equivalent as of the end of 2003. The proposed $2.0 million senior loan to AEB, to broaden the banks funding base for on-lending to SMEs and for residential housing projects, would be IFCs first investment in the Armenian commercial banking sector. IFC will also consider an equity investment of up to $1.0 million to support AEBs capital base. ARMENIAN ECONOMY DEVELOPMENT BANK Mr. Ashot Osipian, General Director 23/1 Amiryanstr, Yerevan 375002 Phone: ++3741 53 48 31 Fax: ++ 3741 53 89 04 International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Armeconombank is headquartered in Yerevan and has 24 branches across Armenia. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Commercial Banking - General Total: $2.00 million 2000000.00 2000000.00 ARMENIAN ECONOMY DEVELOPMENT BANK Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/22531/armeconombank XM-DAC-903-SPI-24572 International Finance Corporation The project is to provide a senior loan of up to $3 million to Inecobank (or the Bank), a small Armenian commercial bank. The IFC loan will broaden the Banks funding base and will be used for expansion of its financing of small and medium-sized businesses and strengthening its position in mortgage origination and consumer lending. As part of the project, IFC may also consider providing up to $1 million in equity. INECOBANK CJSC Avetis Baloyan, Chairman of the Board, Inecobank. Email: President@inecobank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Inecobank is headquartered in Yerevan, Armenia. The Bank has currently 4 branches and is planning to open additional outlets in Yerevan and the regions. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Commercial Banking - General Total: $4.40 million 3000000.00 1400000.00 3000000.00 INECOBANK CJSC 1400000.00 INECOBANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24572/inecobank-project XM-DAC-903-SPI-24841 International Finance Corporation Narek LLC, an Armenian family-owned wholesale and retail trade company, is planning to refurbish and expand the Airarat shopping and entertainment center located in downtown Yerevan. The Sukiasyan family is the sole owner of Narek and majority owner of SIL Group, an association of 25 companies involved in various sectors and an IFC client through its equally owned Armeconombank. NAREK LLC Mr. Artashes Stepanian, Director Narek, Chelyuskincineri Str. #60 Armenia, Yerevan (374 10) 52 37 64 / 52 78 91 International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Airarat center is strategically located downtown Yerevan on an 18,000 m2 triangular area flanked by three major streets: Tigran Mets Avenue, Khorenatsy Str. and Agatangeghosi Str. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 BA - Retail (Including Supermarkets, Grocery Stores, etc.) Total: $5.20 million 5200000.00 5200000.00 NAREK LLC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24841/narek-llc-project XM-DAC-903-SPI-25057 International Finance Corporation The project comprises a senior loan of up to $2 million to Armeconombank with a maturity of 8 years. The loans would be split into two $1 million loans to be used for on-lending to the Armenian small and medium enterprises (SME) and for financing of residential mortgage loans to Armenian individuals. Armeconombank is one of the largest private banks in Armenia with 41 branches across the country and 600 employees. Today, the Bank focuses primarily on serving local corporates, mainly SMEs, and has a growing retail banking program. The Bank is also active in providing correspondent banking services to other local financial institutions. Armeconombank has been IFCs client since 2004. The project will have strong development impacts, specifically: - to encourage growth of the currently under-developed banking sector in Armenia, - to support the development of the SME sector in Armenia, and - to provide access to residential mortgage finance for Armenian individuals. Currently, the SME and mortgage lending segments in Armenia are under-served because of: - limited availability of long-term finding for financial institutions, and - lack of real-time databases to assess creditworthiness of potential borrowers due to large shadow economy in Armenia. Current lending environment favors short-term trade finance needs and collateral-based approach. Building on the existing successful relationship with Armeconombank, IFC believes that the Bank will be able to continue profitable lending to the SME sector and individuals in Armenia. ARMENIAN ECONOMY DEVELOPMENT BANK Mr. Hayk Mkrtchyan, Deputy CEO Armeconombank 23/1 Amiryan Street, Yerevan 375002 Republic of Armenia Telephone: 374-10-53-89-11 Fax: 374-10-53-89-04 Email: mkrtchyanh@aeb.am Website: http://www.arminco.com International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Armeconombank is headquartered in Yerevan, Armenia, and operates through 41 branches across the country. IFCs investment will be used by Armeconombank for on-lending to its Armenian SME and individual clients. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Commercial Banking - General Total: $2.00 million 2000000.00 2000000.00 ARMENIAN ECONOMY DEVELOPMENT BANK Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25057/armeconombank-ii XM-DAC-903-SPI-26276 International Finance Corporation The proposed equity and loan financial package of up to $25 million is intended to strengthen the capital base of Ardshininvestbank (ASHIB or the bank) and to broaden the banks funding base for on-lending to corporate clients including SMEs and to retail clients for residential housing projects. The proposed investment would be IFCs first investment in the bank. ASHIB is one of the largest privately controlled banks in Armenia. It is the largest bank in Armenia in terms of loan portfolio, the second largest bank in terms of assets, with total assets of approximately $223 million equivalent at the end of June 2007. The potential developmental and institutional impact of the project is high. The underdeveloped banking sector impedes Armenias economic growth and limits local business access to longer term financing. Current lending environment favors businesses with short-term trade finance needs and companies that can provide substantial collateral coverage in the form of real estate, precious metals, and other highly liquid assets. The development impact of the project is expected to be significant in terms of its support for local businesses in real economy. By providing financing to ASHIB, IFC will enable the bank to expand its lending operations and provide longer tenor commercial financing to businesses in a various economic sectors, therefore fostering economic growth and employment generation. In addition, this project will broaden access of the population to the mortgage market thus improving the living standards of population. IFCs role in this project is to assist ASHIB in sourcing commercial finance. In addition, IFC will help the bank to expand its financing to corporate clients including SMEs and grow its retail lending, in particular, residential mortgages. Ardshinbank, ZAO Mr. Evgeny Spravtsev, Deputy Chairman of the Board 13 Grigor Lusavorchi str., Yerevan, Armenia, 0015 Phone: (+3741) 52 85 13 Fax: (+3741) 56 74 86 International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Ardshininvestbank is headquartered in Yerevan and has 50 branches across Armenia, and a representative office in Paris. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Commercial Banking - General Total: $25.00 million 15000000.00 10000000.00 15000000.00 Ardshinbank, ZAO 10000000.00 Ardshinbank, ZAO Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26276/ardshininvest XM-DAC-903-SPI-26681 International Finance Corporation The project is to provide a senior loan of up to $3 million to Inecobank (or the Bank), a small Armenian commercial bank. The IFC loan will broaden the Banks funding base and will be used for expansion of its financing of small and medium-sized businesses and strengthening its position in mortgage origination and consumer lending. As part of the project, IFC may also consider providing up to $2 million GTFP trade guarantee facility. The expected development impact of this project is high because it achieves the following objectives in an IDA country: - enabling the Bank to expand its lending operations and provide commercial financing to businesses in a variety of sectors, therefore fostering economic growth and employment generation; - helping to develop the residential mortgage standards according to international norms and best practices in Armenia; and -contributing to building a commercially viable banking system in Armenia. INECOBANK CJSC Alla Pavlova, Head of Executive Office, Inecobank e-mail: alla.pavlova@inecobank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Inecobank is headquartered in Yerevan, Armenia. The Bank has currently 5 branches and is planning to open additional outlets in Yerevan and the regions. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Commercial Banking - General Total: $3.00 million 3000000.00 3000000.00 INECOBANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26681/inecobank-ii XM-DAC-903-SPI-28757 International Finance Corporation The project is a senior loan of up to $15 million to Ameriabank (the Bank) to finance small hydro power plants in Armenia. As long-term funding is barely available in Armenia, a senior loan with a tenor of up to 8 years would enable the Bank to provide much needed long-term loans and facilitate the construction of such small-scale renewable energy projects. The project would support the construction of up to 20MW of small hydro power capacity, which will result in lower greenhouse gas emissions and reduced fuel imports for electricity production AMERIABANK CJSC Armen A. Aslanyan Head, Corporate Finance 9, Grigor Lusavorich Str. Yerevan, 0015, Armenia tel.: +374 10 513177, ext. 1421; fax: +374 10 565958 e-mail: a.aslanyan@ameriabank.am www.ameriabank.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Bank is headquartered in Yerevan. Currently, the Bank has four branches across Armenia and plans to establish two and four more in 2009 and 2010 respectively. Investments can be made throughout the country. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Commercial Banking - General Total: $15.00 million 15000000.00 15000000.00 AMERIABANK CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28757/ameriabank-re XM-DAC-903-SPI-28826 International Finance Corporation The proposed project (Elite Plaza) is the construction completion of an 18-floor Class-A office building located in Yerevan, Armenia. The property is located at the core of the city center, near the main square and the Central Bank offices, with excellent access by car and public transportation. The building will accommodate approximately 25,000 m² of office, retail, conference and exhibition areas. It is expected to be available for lease by mid 2011 with the objective to attract quality long-term tenants. (i) Support for Investments in IDA countries: IFC will play a role to support a local company pursue its strategic objective to develop a portfolio of real estate investment projects in Armenia and Georgia, both IDA countries, by providing long-term financing that is not currently readily available in the market. (ii) Supporting Business-Enabling Infrastructure: The Project will provide the first true Class-A office commerical building in Yerevan and contribute towards meeting the demand for Class-A commercial/office space in the country. (iii)Increased Employment: The Project will create new employment, both directly and indirectly. In addition, temporary employment will be provided to local labor during the construction phase. (iv) Demonstration Effect: IFC's participation during the crisis will encourage other investors and financial institutions to also pursue other investment opportunities with viable companies in Armenia. ELITE PLAZA CJSC Mr. Armen Mkoyan,President,21/3, Pushkin Street, Yerevan, Armenia. Email: info@elitegroup.amTel: +374 10 566922 Fax : +374 10 566988 International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The property is at Khorenatsi Street, near the main square and the Central Bank offices in Yerevan, the capital of Armenia. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Construction and Real Estate Total: $5.40 million 5400000.00 5400000.00 ELITE PLAZA CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28826/elite-project XM-DAC-903-SPI-29379 International Finance Corporation The project is to provide term funding to ACBA Leasing CJSC, Armenias leading leasing company and subsidiary of ACBA Credit Agricole Bank. The funds will be used to finance leases of equipment to local SMEs. Leases are typically extended to finance purchase of transportation vehicles, manufacturing and agricultural equipment for tenor of up to five years Support local micro-enterprises and SMEs through capable financial intermediary; Crisis response: support leasing in Armenia as bank funding has become scarce; Support growth of Armenia's leading leasing company; Contribute to energy efficiency through financing new energy-efficient production equipment; Provide financing for renewable energy projects through leases of hydropower equipment; ACBA Leasing Credit Organization CJSC Arsen Bazikyan, Deputy General Manager 1 Byron St Yerevan, Armenia Tel. +93-700-825 Email: leasing@acba.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia ACBA Leasing CJSC is headquartered in Yerevan, Armenia at 1 Bayron Str. Through the branch network of its parent (ACBA Credit Agricole Bank), it reaches SME customers across the entire country. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 LB - Leasing Services Total: $3.00 million 3000000.00 3000000.00 ACBA Leasing Credit Organization CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29379/senior-loan-for-acba-leasing-armenia XM-DAC-903-SPI-29523 International Finance Corporation The Project consists of a long-term senior loan to AEB and a parallel long-term senior loan mobilized from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO). Proceeds of loans will be used to finance investment projects of Armenian SMEs. The project will help the Bank expand its client base and provide funding to small- to medium-size enterprises (SME) from various economic sectors throughout all regions of Armenia to help them overcome the consequences of the economic crisis and ensure their long-term growth. SME sector plays an important role in Armenian economy in terms of contribution to the total GDP as well as job generation. The Development Impact is expected to be strong in the following areas: (i) supporting the Armenian SME sector in overcoming the consequences of the economic crisis and improving SME competitiveness through providing access to long-term funding and (ii) enabling AEB to expand its client network throughout Armenia. ARMENIAN ECONOMY DEVELOPMENT BANK Mr. Hayk Mkrtchyan Deputy Chief Executive Officer Armeconombank   23/1, Amiryan Str, Yerevan, 0002, Armenia Tel: +374 10 53 8911  Fax: +374 10 56 3697  e-mail: mkrtchyanh@aeb.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Bank is headquartered in Yerevan, Armenia and has 17 branches in Yerevan and 19 branches in all regions of Armenia. Investments can be made throughout the country. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AH - Commercial Banking - SME Finance Total: $5.00 million 5000000.00 5000000.00 ARMENIAN ECONOMY DEVELOPMENT BANK Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29523/aeb-syndication XM-DAC-903-SPI-30026 International Finance Corporation The proposed project is a US$20 million loan to ACBA-Credit Agricole Bank, Armenias leading bank by total assets. The proceeds of the loan will be used for on-lending to local micro, small, medium enterprises, in particular to companies in the agri-business segment. High, on account of: -Continued SME support in an IDA country -Sustain bank's capacity to lend to agricultural sector where it has 20% of its loan portfolio. ACBA BANK OJSC ACBA-Credit Agricole Bank 1 Bayron Street, Yerevan, Armenia Attention: Mr.Stepan Gishyan, General Director International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Banks headquarters are in Yerevan, Armenia. The bank operates in all regions of Armenia through its extensive network of branches. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AC - Commercial Banking - Microfinance and Small Business Total: $20.00 million 20000000.00 20000000.00 ACBA BANK OJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30026/acbacredit-agricole-bank-armenia XM-DAC-903-SPI-30549 International Finance Corporation HSBC Bank Armenia is subsidiary of HSBC Group. The bank was established in Armenia in 1996, originally under the name Midland Armenia Bank and has been renamed into HSBC Bank Armenia in 1999. The bank is one of the leading banks in Armenia, offering a wide range of products and services to individual as well as corporate customers in Armenia and abroad. The IFC will provide a financial facility to HSBC Bank Armenia (the Bank) to finance projects for investment in renewable energy (RE) and energy efficiency (EE) technologies (RE/EE) in Armenia. IFC is considering supporting the project with financing from the Canada Climate Change Program, a donor-funded facility for climate change friendly projects. IFC shall also provide advisory services to the Bank for technical training of credit officers and risk specialists, as well as training and transaction support for the sustainable energy finance projects. The facility will be used for financing investments in projects that will result in increase of energy efficiency or generation of renewable energy in Armenia. The project builds on IFCs first renewable energy finance loan in Armenia to finance small hydropower plants, complemented by advisory services. In Armenia, RE producers are supported by favorable legislation, a guaranteed feed-in tariff and 15 year power purchase agreement. Survey of 100 Armenian enterprises undertaken by IFCs Energy Efficiency Survey Project in 2008 found, that there is significant potential for EE financing and the industry could be saving up to 14.5% of energy costs by further improving energy efficiency. The proposed facility would support the Bank in expanding the volume of financing for EE and RE projects. The development impact is expected to be high, as the Project provides the needed long term funding for investments in renewable energy and energy efficiency sub-projects in an IDA country through an experienced and capable bank and contributes to the deepening of financial intermediation in Armenia. It will also help Armenian companies to improve their competitiveness and overcome the consequences of the economic crisis as well as support job generation. Estimated volume of greenhouse gas emissions that can be avoided as a result of the project implementation stands at 15,000 tons. HSBC BANK ARMENIA CJSC HSBC Bank Armenia closed joint stock company 66 Teryan Street Yerevan, Armenia International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Proceeds of the loan facility will be on-lent by HSBC Bank Armenia to its customers in Armenia through its 8 branches operating in Armenia. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AA - Commercial Banking - General Total: $22.00 million 22000000.00 22000000.00 HSBC BANK ARMENIA CJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30549/hsbcbank-armenia XM-DAC-903-SPI-31359 International Finance Corporation The proposed project is a $30 million loan to ACBA-Crédit Agricole Bank (ACBA or the Bank), the leading bank in Armenia in terms of assets. The proceeds of the loan will used for on lending to local Micro and Small-and-Medium Enterprises (MSMEs) with a particular focus on agri-business. High development impact on account of (i) continued MSE support in an IDA country and (ii) Sustained ability to lend to the agricultural sector which comprises 29% of its loan portfolio. The Project will generate a range of social and economic benefits, including economic growth and employment creation, as well as financial deepening with services and products tailored to low income populations, the Bank having a strong foothold in rural financing to micro and small enterprises and farmers. ACBA BANK OJSC ACBA-Crédit Agricole Bank 1 Bayron Street Yerevan, Armenia Attention: Mr. Stepan Gishyan, General Director International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia The Banks headquarter is in Yerevan, Armenia. The bank operates in all regions of Armenia through its extensive network of branches. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AC - Commercial Banking - Microfinance and Small Business Total: $30.00 million 30000000.00 30000000.00 ACBA BANK OJSC Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/31359/acba-bank-ii XM-DAC-903-SPI-31610 International Finance Corporation Byblos Bank Armenia (the Bank or the Company) has asked IFC for a long-term senior loan of up to $10 million to support its loan program for housing finance with particular emphasis on financing energy efficiency (EE) upgrades for households in Armenia. IFC shall provide advisory services to the Bank for technical training of credit officers and risk specialists in EE lending and training on E&S issues. Bank was originally established in Armenia in 1992 by a local group. In 2007 the Byblos Bank S.A.L (Byblos Lebanon) became 100% shareholder, renaming the bank into Byblos Bank Armenia Closed Joint Stock Company. The project envisages partnering with a capable financial intermediary to provide residential energy efficiency loans to Armenian residents. Energy-efficiency improvements can play a critically important role in Armenia - a country without indigenous fossil energy resources and thus very dependent on imported fuel. IFC will also provide advisory support to Byblos Bank Armenia for development of energy efficiency product and related training. Byblos Bank Armenia ZAO Mr. Ararat Ghukasyan CEO Byblos Bank Armenia Amiryan 18/3 Yerevan 0002 Armenia Tel: +37410530362 Fax: +37410535296 HYPERLINK "http://www.byblosbankarmenia.am" www.byblosbankarmenia.am International Finance Corporation +12024733800 ccspg@ifc.org www.ifc.org 2121 Pennsylvania Avenue, NW Washington DC 20433 Armenia Byblos Armenia is headquartered in Yerevan with 4 branches across the country. Location description A description that qualifies the activity taking place at the location. 40.2500000000 45.0000000000 AB - Commercial Banking - Housing Finance Total: $10.00 million 10000000.00 10000000.00 Byblos Bank Armenia ZAO Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/31610/byblos-arm-ree