EBRD and Inecobank to fund green building in Armenia
The European Bank for Reconstruction and Development (EBRD) and Inecobank CJSC are supporting the development of a green mixed-use residential complex in the Armenian capital, Yerevan, with a senior secured loan of up to US$ 30 million (€26 million) under their risk-sharing facility.
The loan will be extended to Nuovo Velodromo LLC, a newly established special purpose vehicle co-owned by Renco Group S.P.A., a leading Italian construction company, and its local partner, the Adamium group of companies. The funds will go towards financing the construction of a mixed-use residential complex with a total area of approximately 47,000 square metres.
The total cost of the project is estimated at around US$ 92 million (€79 million), with the remaining financing to be covered by equity contributions from the sponsors and proceeds from apartment pre-sales.
The development will be the only mixed-use residential property in Armenia designed to achieve internationally recognised green building certification, distinguished by high construction quality and strong energy efficiency performance.
The project targets LEED “Gold” certification and, as a result, 100 per cent of the EBRD funding qualifies as Green Economy Transition (GET) financing.
The transaction is aligned with the EBRD’s country strategy for Armenia, in particular, its priority of enhancing private-sector competitiveness through capacity building, strengthened corporate transparency and a more conducive business environment.
The project is the fourth deal signed under the Bank’s risk-sharing facility with Inecobank. The facility is one of the core financing frameworks of the EBRD’s Small Business Initiative, a programme dedicated to supporting and developing the local private sector. A popular funding instrument, it is designed to allow the EBRD to share partner banks’ exposures to local enterprises through either funded or unfunded risk participation.
The EBRD is one of the leading institutional investors in Armenia. Since the beginning of its operations there, it has invested almost €3 billion in 243 projects, supporting private-sector development and the energy, infrastructure, telecommunications and financial sectors.
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EBRD supports modernisation of waste management in Benin
29.04.2026.16:58
The European Bank for Reconstruction and Development (EBRD) is providing a sovereign loan of €35.5 million for Benin’s national solid waste management company, Société de Gestion des Déchets et de la Salubrité (SGDS).
The investment will support the upgrade and modernisation of municipal solid waste management infrastructure in the Grand Nokoué region. The project is being co-financed with the European Investment Bank (EIB).
Grand Nokoué, which is home to approximately 2.8 million people, currently relies on a landfill-based disposal model. The EBRD funding will help the region transition to a more integrated and sustainable, recycling-oriented model by introducing innovative green technologies and practices that will yield tangible benefits at scale, including an expected reduction in CO₂ emissions of more than 75,000 tonnes per year.
The investment will support improvements to SGDS’ manual sorting facilities, the construction of new sorting centres and composting plants, the installation of landfill gas collection systems, upgrades to leachate management systems, and a range of ancillary works at landfill sites. The loan will also enable the acquisition of waste collection trucks and containers, helping to improve operational efficiency and service coverage.
In addition, the EBRD will launch its first policy dialogue in sub-Saharan Africa’s infrastructure sector. The Bank will develop and implement an economic governance technical cooperation framework to support SGDS with operationalising a recently introduced household waste collection fee. In parallel, the technical cooperation will support SGDS in strengthening gender standards by developing and implementing an Equal Opportunities Action Plan to increase women’s participation in technical and leadership roles.
Dasha Dougans, EBRD Head of Benin, said: “This project embodies our commitment to accelerating green and resilient urban development and supporting Benin as it upgrades essential public services. Modernisation of the Grand Nokoué waste management system will bring long‑term environmental, social and economic benefits, building on the progress and transformation that started with the creation of SGDS a few years ago.”
Gilles Amoussou, SGDS’ Chief Executive Officer, said: “This project marks an important milestone for SGDS and for Benin’s transition towards a more modern, sustainable waste management system. Thanks to the partnership with the EBRD and EIB, we are strengthening the infrastructure needed to better serve the residents of the Grand Nokoué area.”
Benin became an EBRD shareholder in 2024 and a country of operation in July 2025. The Bank aims to invest in sustainable critical infrastructure in the country that will underpin private-sector development and support the modernisation and efficiency of enterprises. It will also work to help strengthen economic governance. This project is the second the EBRD has signed in Benin.
