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BSC - ArmSwissBank CJSC, GCF and Ministry of Environment of RA Funded Project

Advancing Green Finance in Armenia

Partner:   ArmSwissBank, GCF Armenia
Date:   2021
Status:   Completed
Category:   Study, Green Finance

The “Scaling Up Green Finance Practices in the Republic of Armenia" program, launched in 2020, aims to strengthen Armenia's green finance sector. This initiative focuses on identifying obstacles, raising awareness, and introducing advanced methodologies for green financing.

BSC Business Support Center, engaged by Armswissbank CJSC, is conducting a scoping study to enhance private sector involvement in green finance. Partnering with PwC Czech Republic, the study focuses on the following key activities:

1. Awareness and Engagement:
Conducted five round table discussions to educate private sector entities on climate adaptation, mitigation, and financing opportunities from climate funds.

2. Project Screening and Recommendations:
Identified and preselected potential projects for the “GCF – Armenia Country Cooperation Programme", ensuring compliance with Green Climate Fund (GCF) Investment Criteria.

3. Methodology Development and Mentorship:
Developed a methodology and provided ongoing mentorship for assessing private sector engagement in green finance.

4. Policy Recommendations:
Drafted recommendations for the Ministry of Environment on updating the “GCF – Armenia Country Cooperation Programme" to include new private sector opportunities.

This collaboration is pivotal in creating a supportive environment for green finance in Armenia, fostering sustainable investments, and contributing to the country's green economy transition.