EBRD honors Ameriabank with Deal of the Year – Energy Efficiency awardMay 13, 2016 - 10:55 AMT PanARMENIAN.Net - The European Bank for Reconstruction and Development (EBRD) awarded Ameriabank in the Deal of the Year – Energy Efficiency category for improving the energy efficiency of greenhouse infrastructure in Armenia. The EBRD Trade Facilitation Programme (TFP) honored its most successful partner banks in a ceremony at its traditional TFP meeting on the eve of the Bank’s 2016 Annual Meeting in London. Ameriabank has issued two letters of credit for Alternative Energy LLC which were approved and financed by Commerzbank with EBRD's recommendation. Moreover, the Netherlands Development Finance Company (FMO) also participated in the deal, sharing part of the political and payment risks. The total cost of the project stood at $2,3 million, the $1,91 million of which was financed through Ameriabank's letters of credit. Thanks to the funding, the Alternative Energy LLC acquired high-quality energy-saving equipment from the Czech Republic, which enables saving energy worth $390,000 annually compared to greenhouse companies employing ordinary equipment, as well as reducing the consumption of natural gas by 1,950,000 m³. Due to the use of modern high-quality equipment, the company can gain a competitive advantage both in domestic and foreign markets. Acknowledging the importance of the role of greenhouse infrastructure in Armenian agriculture, Ameriabank actively funds greenhouse farms by facilitating the import of energy-saving and high-productivity equipment. Ameriabank funds over 70% of greenhouse projects in Armenia. The use of modern energy-saving equipment gives competitive advantages to greenhouse farms, ensuring smooth operation all year round and significantly contributing to the development of Armenia's economy. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |