On February 18, 2025, during the 41st annual Green Climate Fund (GCF) Board meeting held in South Korea, ARMSWISSBANK CJSC received accreditation, becoming the first and only private entity in the Republic of Armenia to be accredited by the GCF.

Nominated by Armenia’s state-authorized bodies, ARMSWISSBANK has been undergoing the accreditation process with the Green Climate Fund since 2020. With this accreditation, the bank gains direct access to the world’s largest climate finance fund, attracting up to $50,000,000 in concessional funding for projects aligned with Armenia’s climate agenda.

This achievement is of great importance not only for ARMSWISSBANK but also for the Republic of Armenia, as it strengthens the country's efforts in combating climate change and attracting investments aimed at sustainable development.

As an Accredited entity of the GCF, ARMSWISSBANK assumes a leading role in financing environmentally sustainable projects, and supporting local businesses and organizations in implementing green investments. The bank will focus on energy efficiency, renewable energy, sustainable infrastructure, agriculture, and other environmental projects that contribute to Armenia’s climate strategy.

Henry Gonzalez, the Green Climate Fund's (GCF) Chief Investment Officer, said: "The GCF is pleased to welcome ArmSwissBank as a national direct access entity to the Fund’s accreditation network. The partnership will open new opportunities for collaboration on climate action that will accelerate low-emission, climate-resilient, sustainable development in Armenia".

"For the past decade, Green and Sustainable Finance has been one of ARMSWISSBANK’s top priorities and has become a strategic direction. From 2020 to 2022, the bank managed a GCF-funded grant program, which was a crucial step in preparing for accreditation and enhancing Armenia’s expertise in Green Finance.

Accreditation by the GCF is not only a key milestone in our sustainable development strategy but also creates significant opportunities for Armenia’s economy by unlocking access to international climate finance resources.

We firmly believe that this opportunity will stimulate green investments, support businesses, and contribute to Armenia’s sustainable development. The benefit extends beyond access to affordable financial resources – as part of the accreditation, the bank will also have the opportunity to engage leading international experts to develop tailored financial instruments and enhance the capacity of our employees," stated the CEO of ARMSWISSBANK CJSC Gevorg Machanyan

ABOUT GREEN CLIMATE FUND

The Green Climate Fund (GCF), one of the key components of the Paris Agreement, is the world's largest climate fund dedicated to supporting developing countries in scaling up and implementing their Nationally Determined Contributions (NDCs) through low-carbon and climate-resilient pathways. Currently, 145 entities are accredited by the fund, including 17 regional, 52 international, and 76 national organizations, of which 56 are from the private sector.