Symbiotics Launches $6.75 M Sustainability Bond in Armenia With ACBA Bank OJSC

Symbiotics, the leading market access platform for impact investing, has arranged a $6.75 million Sustainability Bond for ACBA Bank OJSC (“ACBA”). This represents a landmark transaction for the only cooperative bank present in Armenia.  ACBA has committed to use the proceeds of the Sustainability Bond for both social and green projects, in line with the ICMA Sustainability Bond Principles.

The social projects are micro loans up to $10,000 to microenterprises and SME loans up to $1 million to small and medium enterprises generating employment and improving the general funding available to this market. The green projects are centered around renewable energy projects, energy efficiency loans, clean transportation and sustainable agricultural loans focused on climate-smart farm inputs.