GEFF Armenia celebrates its 1,000th financed project during COP17
On 22 October 2026, the Green Economy Financing Facility (GEFF) in Armenia celebrated a significant milestone: its 1,000th financed project in Armenia, recognising Armenian snack manufacturer Apache Group LLC for its investment in electric delivery vehicles.
The milestone was marked at a ceremony attended by representatives of Apache Group, Inecobank, the EBRD and the GEFF in Armenia team. Apache Group was presented with a commemorative trophy and certificate, while Inecobank received a certificate recognising its contribution to achieving this milestone.
“Reaching 1,000 financed projects shows that green technologies are within reach for Armenian businesses of all sizes, and we are proud to support companies on this journey,” said Gernot Kuhlisch, Project Manager, GEFF in Armenia.
Apache Group manufactures a range of snack products, including sunflower seeds, chips, crackers and biscuits.
Through a US$ 90,000 investment financed by GEFF partner Inecobank, the company purchased two electric delivery vans to support its distribution operations.
“Our electric vans help us distribute our products more efficiently while reducing fuel costs and emissions. We thank Inecobank and the GEFF team for making this investment possible,” said Karen Poghosyan, Founder and General Director, Apache Group LLC.
The investment demonstrates how businesses can integrate electric mobility into their day-to-day operations. Electric delivery vehicles offer opportunities to reduce fuel expenditure, lower vehicle-related emissions and improve long-term operational efficiency.
For manufacturers and distributors, electric transport can also help reduce exposure to fluctuations in conventional fuel prices while supporting the modernisation of logistics operations.
“Supporting Apache Group’s move to electric mobility reflects our commitment to helping business clients adopt green solutions that strengthen their competitiveness,” said Armen Beglaryan, Head of Corporate Business Management Department, Inecobank.
Reaching 1,000 financed projects marks an important achievement for GEFF in Armenia and highlights the role of partner financial institutions in making green technologies more accessible to Armenian businesses.
“Combining accessible financing with technical expertise helps Armenian companies modernise their operations, manage energy costs and invest in cleaner transport,” said Anna Khachatryan, Associate Director, EBRD.
The milestone also demonstrates the tangible benefits of this support for Armenian enterprises. Local businesses are able to upgrade their facilities and reduce operating costs, while green investments strengthen their position in both domestic and export markets.
About GEFF in Armenia
GEFF in Armenia supports eligible green investments through partner financial institutions, providing access to financing and technical assistance for technologies that improve energy efficiency, promote renewable energy and reduce environmental impacts.
Businesses can also use the Green Technology Selector (GTS), an online tool that helps them identify pre-assessed, eligible green technologies and equipment, making it easier to select suitable solutions and access green financing.
