AMERIABANK STRIVES TO SATISFY DEMAND FOR INVESTMENT IN RENEWABLE ENERGY SECTOR
ArmInfo
2009-11-03 18:03:00
ArmInfo. Only one third of demand for investments in the renewable
energy sector is satisfied in Armenia, Tigran Jrbashyan, Ameriabank
Development Director, told media on Tuesday. Renewable energy,
he said, is considered as the most attractive and reliable sector
as compared to other economy sectors for investing, risk management
and acquisition of income. The regulation of this sector, sustainable
demand and comparative predictability is not less important, either,
he said. These are the very prerequisites, Tigran Jrbashayn said, that
became an impetus for Ameriabank to actively finance the renewable
energy sector.
Asked if it is reasonable implementing a new program in conditions of
the global financial crisis, Ameriabank expert said that Armenia is
deep in the crisis now. The specific terms of overcoming the crisis
depend on many factors, in particular, on the situation in the global
markets and efficiency of programs implemented by the Government
of Armenia.
As regards parameters of crediting, the expert said conditions
of lending to potential borrowers are unique and the bank gets an
opportunity to choose the best projects since demand in this sector is
high. T. Jrbashyan said maturity of the credits provided under this
program will be 8 years and at low annual interest rates – starting
from 11%. In addition, the bank will charge only interests during
3 years of grace period for credits. He said in case the project is
profitable, Ameriabank may participate also in the capital stock of
newly-created small HPPs.