The event, held on March 18th in Yerevan, brought together over 80 participants, including more than 50 women entrepreneurs, to discuss the “Gender Aspects of Green Financing in Armenia: Challenges and Opportunities.” The event was organized by the European Bank for Reconstruction and Development’s (EBRD) GEFF in Armenia program.
Green Finance for Women-Led Businesses
The gathering convened representatives from women’s organizations, forums, and the business sector, as well as partner financial institutions of the EBRD’s GEFF in Armenia program, the German-Armenian Fund, and green technology suppliers. The primary focus was to explore how green financing can more effectively support women-led businesses.
The GEFF in Armenia program promotes green investments in energy-efficient, resource-efficient, and renewable energy technologies. Through financial and technical assistance, the program helps businesses invest in technologies that reduce costs and increase productivity.
Challenges and Opportunities in Green Transition
Gernot Kuhlish, Head of the GEFF in Armenia program, opened the event by highlighting the ongoing green transition. He emphasized that women entrepreneurs are not only involved but are increasingly influencing its formation and expansion. Kuhlish also noted that a key challenge is ensuring access to appropriate tools and resources for women entrepreneurs to effectively fulfill this role.
This issue became one of the central themes of the event. Victoria Stefanyuk, International Gender Expert for the GEFF in Armenia team, pointed out that women entrepreneurs continue to face practical obstacles in accessing green financing, including challenges in obtaining financial resources, as well as a lack of awareness and confidence.
Successful Mechanisms and Technological Solutions
The discussion then shifted to successful existing mechanisms. Andro Butkhuzi, Deputy Head of the GEFF in Armenia program, presented numerous investment and “Green Technology List” opportunities, showcasing examples of businesses already implementing sustainable operating principles. Supplier companies Celsius and Eco Step presented technological solutions such as heating systems, solar power plants, and energy-efficient equipment that reduce costs and emissions.
A panel discussion united representatives from the EBRD, financial institutions, business associations, and women’s businesses to discuss how to develop inclusive green financing in Armenia.
The event generated significant public interest, with notable Armenian women figures from the public sector also participating, including architect and founder of “Radio Hay” Anahit Tarkhanyan, weightlifter, world champion, and world title holder Nazik Avdalyan, and well-known media representative Lili Hover.
Networking and Future Cooperation
Following the official agenda, the networking session provided an opportunity for entrepreneurs, banking representatives, and technology suppliers to continue the dialogue. Discussions covered real investment projects, financing needs, and avenues for future cooperation.
The active participation demonstrated that women entrepreneurs’ interest in energy-efficient and green financing in Armenia is no longer just an emerging trend; it has become a practical reality.
