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2014/03/04
SEF International (SEF) and European Bank for Reconstruction and Development (EBRD) signed loan agreements of USD 2 million
SEF International (SEF) and European Bank for Reconstruction and Development (EBRD) signed two loan agreements for 3 years for the total amount of USD 2 million in local currency, to be utilized for energy efficiency and renewable energy financing and small and medium enterprise loans.
The deal will allow SEF more lending for energy efficient solutions and small businesses in Armenia. The energy efficiency loans will contain a 10 percent grant, to let customers utilize energy efficient appliances at a lower cost.
The CEO of SEF International Garegin Gevorgyan mentioned. “This partnership is vital for SEF. We will direct these resources to our target clients, creating an opportunity to purchase energy efficient equipment at more affordable prices.  Further, SEF International enters into collaboration with a major international financing institution, thus marking a new level of institutional development.
SEF is the first licensed microfinance organization in Armenia and one of the leaders in rural lending. It offers agriculture, business, start-up, educational and consumer loans.
The company provides services through its 16 branches throughout the regions of Armenia. By the end of 2013 the company served more than 17,000 active clients.
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