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

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  • BSC-ArmSwissBank CJSC, GCF and Ministry of Environment of RA Funded Project
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  • Партнер : ArmSwissBank, GCF
  • Дата : 2021
  • Статус : Завершенный
  • Категория : Учеба, Зеленые финансы

Scoping Study on private sector engagement for advancing “Green finance” in Armenia, under the project ’’Scaling Up Green Finance Practices in RA’’

The “Scaling up green finance practices in the Republic of Armenia” programme has been launched since 2020 with the key objective to conduct a comprehensive study of obstacles hindering the further development of the "green" financing sector in the Republic of Armenia, to raise the level of awareness, and to introduce an advanced methodology.

BSC got engaged by Armswissbank CJSC to provide consulting services in carrying out a scoping study on private sector engagement for advancing “green finance” in Armenia.

  • Цель
  • Решение
  • Результат

The main goal of the ’’Scaling Up Green Finance Practices in RA’’ project was to carry out a review of the regulatory framework and design a package of recommendations to advance “green finance” in Armenia.

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Within the framework of the current project phase, BSC Business Support Center in cooperation with international consulting company PwC Czech Republic contracted by ArmSwissBank to carry out the following main activities to support the main goals of the project:

- Implementation of activities aimed at increasing awareness of private sector entities operating in priority sectors of the “GCF Armenia Country Cooperation Programme” about the project, green finance practices and financing opportunities made available by climate funds;
- Carrying out comprehensive screening and identifying potential projects in climate change mitigation and adaptation domains for inclusion into the “GCF – Armenia Country Cooperation Programme”;
- Designing recommendations to the Ministry of Environment of the Republic of Armenia on updating “GCF – Armenia Country Cooperation Programme” with the new private sector opportunities.

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In line with the objectives of the project, BSC provided the following main services:

- Implementing 5 round table discussions aimed at increasing awareness of private sector entities operating in climate adaptation and mitigation on the NDC framework, priority sectors of the “GCF Armenia Country Cooperation Programme” and financing opportunities made available by climate funds;
- Designing methodology and checklist, on-going mentorship and final per-review of scoping study on private sector engagement (exploring interest, assessing capacity, bankability and readiness etc. for activity);
- Implementing scoping study on private sector engagement (exploring interest, assessing capacity, bankability and readiness for activity)
- Designing special screening templates for preselection of (minimum 50) potential projects, finalization of selection for recommended investment projects (minimum 10), as well as provision of justification for their selection, including compliance with GCF Investment Criteria;
- Drafting recommendations to the Ministry of Environment of the Republic of Armenia on updating “GCF – Armenia Country Cooperation Programme” with the new private sector opportunities and implement series of consultations with the Ministry and other relevant stakeholders.

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