EU-backed EIB guarantee with Ameriabank to unlock up to €106.25m for Armenian SMEs

Armenia’s small businesses are set for a financing boost after the EIB Group and Ameriabank signed an EU-backed guarantee in Yerevan to unlock up to €106.25 million in new lending for micro, small and medium-sized enterprises. The operation, a partial portfolio guarantee supported by the European Union under the EU4Business Guarantee Facility, is expected to benefit around 900 MSMEs and sustain over 5,000 jobs across the country.

It marks the EIB Group’s second direct operation with Ameriabank and is designed to expand access to affordable credit for firms that have struggled to secure funding. EIB Vice-President Karl Nehammer, who oversees the Bank’s operations in Armenia, said the agreement is aimed at enabling entrepreneurs to invest and expand, adding that access to finance can be decisive for growth.

Hovhannes Toroyan, Ameriabank’s Chief Financial Officer, said supporting small businesses is a strategic focus for the bank and that the partnership would help more firms turn plans into reality and contribute to the economy. EU Ambassador to Armenia Vassilis Maragos told the event the guarantee is a practical example of deepening EU–Armenia cooperation and supports jobs, innovation and long-term prosperity.

The initiative builds on an existing partnership between the EIB and Ameriabank and aligns with the European Union’s efforts to bolster sustainable economic development, competitiveness and innovation in Armenia. According to the parties, the new portfolio will support business growth and economic resilience by broadening access to financing for MSMEs nationwide.

The guarantee is part of the EU4Business framework and, as officials noted, is consistent with the recently adopted Strategic Agenda for the EU–Armenia Partnership, which reaffirms the EU’s commitment to strengthening Armenia’s societal resilience and economic competitiveness.