International Finance Corporation, a member of the World Bank Group, has approved a US$15 million loan to Armenian bank Ameriabank to help finance the development of small hydropower projects in the country.
Most of the interest in development would include small hydro projects between 2MW and 4MW in capacity, media reports indicate.
As well as the loan, IFC also will provide advisory services to help Ameriabank assess and review projects, with a focus on environmental and financial aspects, according to media reports.
Earlier this year, IFC provided the bank a US$5 million trade-finance guarantee, allowing it to expand financing for the foreign trade transactions of its clients throughout the country.
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