The EBRD, the European Union (EU) and ArmSwissBank have become stable partners helping the Armenian companies to realize their ambitions of expansion and investing in better technology.
Labora Plast is one of these companies. It has been in the agriculture business for quite some time, importing freezers and fridges to keep produce – including apricots – fresh and juicy. The company recently noticed a gap in the supply chain and decided to bridge it by producing boxes for agricultural exports.
The EBRD offers companies loans to modernise production by bringing it in line with EU standards. These loans, disbursed via local partner financial institutions such as ArmSwissBank, are coupled with grants and technical assistance funded by the EU under its EU4Business initiative.
To date, thirteen companies in Armenia have already benefitted from the EU4Business-EBRD Credit Line and the number is growing. This program is also active in Georgia, Moldova and Ukraine.