Ameriabank successfully closed another trade finance (TF) transaction in collaboration with its long-standing partner IFC, a member of the World Bank Group, helping an Armenian greenhouse company expand its exports and create more jobs in rural areas of Armenia.
Ameriabank’s medium-term TF facility, covered by a stand-by letter of credit provided by IFC through its Global Equipment Finance Facility (a medium-term extension of its Global Trade Finance Program (GTFP)*) is helping to finance Green Food LLC’s future growth. The transaction will help the company import and finance energy-efficient greenhouse equipment that will triple its current greenhouse capacity and enable launching of raspberry production.
Hyung Ahn, Global Senior Manager, Trade and Commodities, Financial Institutions Group, IFC, said: “This is an outstanding example of how our innovative trade solutions and our partnership with Ameriabank in Armenia create new opportunities and help solve a number of development challenges, from supporting exports and women employment, to boosting the use of modern energy efficient technologies”.
The transaction combines several achievements in a single deal, from boosting inclusive economic growth in rural areas thanks to the company’s operations in the Shirak region, supporting a company whose workforce is 83 percent female, and diversifying Armenia’s exports with strawberries and raspberries. It also introduces modern agro-tech with new equipment sourced from renowned French company Richel, reduces carbon monoxide emission with the greenhouses using CO2 in the cultivation process, and builds capacity for new agro-production.

About Green Food LLC
Green Food LLC, a company established in 2015, is a greenhouse operating company cultivating strawberries and raspberries in the Shirak region of Armenia. The company exports 90 percent of its agro-produce.
About GTFP
Launched in 2005, the $5 billion Global Trade Finance Program (GTFP) provides risk mitigation by guaranteeing trade-related payment obligations of over 285 eligible financial institutions (FIs).
In 2014, IFC introduced the $500 million Medium-Term GTFP (Global Equipment Finance Facility), which extends guarantees up to five years to selected partners to support imports of equipment and capital goods with the focus on climate change.
For more information about IFC, please, visit: www.ifc.org.