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AFD Group reaffirms its long-term commitment to Armenia with 4 agreements signed during President Macron's State visit
These four agreements reflect the full breadth of AFD Group's approach in Armenia, combining support to the Armenian State in its reform agenda and its response to housing access challenges for vulnerable populations — including refugees from Nagorno-Karabakh — with private sector support to drive inclusive economic growth.
AFD and the Ministry of Finance of the Republic of Armenia signed a Memorandum of Understanding committing AFD to deploy a new multi-year budget support programme for 2026–2028. This programme builds on a cooperation launched in 2016 and accompanies the implementation of structural reforms structured around three strategic pillars: public financial management (including, for the first time, the sub-national level), financial sector development and green finance, and domestic resource mobilisation and private investment. By directly supporting Armenian public finances, AFD enables the Armenian State to invest in the services and sectors that matter most to its people.
AFD and the National Mortgage Company (NMC), a public financial institution refinancing mortgage loans, signed a memorandum of understanding for a new credit line — the fourth operation between AFD and NMC since 2013. This financing is designed to support access to housing for the most vulnerable populations, including Nagorno-Karabakh refugees, under an Armenian government programme.
Proparco signed two loan agreements with Armenian commercial banks. The first, with Ameriabank, is a €75M credit line to finance climate-related projects (agricultural sector) and support micro, small and medium enterprises (MSMEs), fostering employment and economic formalisation. In total, close to 23,000 jobs will be supported and around 700 MSMEs accompanied. The second, with Evocabank, is a €20M credit line aimed at strengthening access to finance for women-owned or women-led businesses and supporting the development of renewable energy. In total, close to 17,000 jobs will be supported and more than 300 MSMEs accompanied.
France–Armenia: a partnership built to last
These agreements reflect the strength and ambition of the France–Armenia partnership — deeply rooted over time and grounded in a mutual trust that continues to grow. Since the AFD Group's first engagements in 2013, the relationship has expanded considerably: an ever-broader range of sectors covered, growing financing volumes, and a stronger presence on the ground. France and Armenia share strong bilateral ties, shaped by a common history and a shared commitment to building a stable and prosperous future together. The AFD Group's work is part of this dynamic: working alongside its partners to support stability, inclusive growth and convergence with Europe.