PROJECT

Projects

Summary of Proposed Investment

Project Number

31610

Company Name

Byblos Bank Armenia ZAO

Date SPI Disclosed

Jan 24, 2012

Country

Armenia

Industry

Financial Markets

Projected Board Date

Feb 23, 2012

Status

Completed

Sector

Commercial Banking - Housing Finance

Department

Global Industry, Financial Markets

Environmental Category

C - No Impact

Previous Events

Approved : Mar 22, 2012
Signed : Mar 28, 2012
Invested : Jan 15, 2013

Project Description

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.

Sponsor / Cost / Location

Development Impact