GEFF Armenia highlights circular economy investment opportunities at COP17 in Yerevan

On 23 October 2026, GEFF in Armenia brought together about 100 participants from government, financial institutions, businesses and circular economy organisations at COP17 in Yerevan to explore how circular economy investments can help Armenian businesses reduce costs, improve resource efficiency and strengthen their competitiveness.

Held under the theme “From Waste to Value: Unlocking Circular Economy Investment in Armenia”, the event examined market developments, practical investment opportunities and the financing available to help businesses adopt circular solutions.

The event opened with a welcome speech from Anna Khachatryan, Associate Director, representing the European Bank for Reconstruction and Development (EBRD).

“Circular economy investments show that resource efficiency is no longer a niche topic but a practical route to lower costs and stronger competitiveness. The EBRD is committed to working with partner banks and businesses to turn these opportunities into bankable projects,”said Anna Khachatryan.

The sessions that followed covered Armenia’s circular economy market, including policy and regulatory developments, market demand and investment opportunities. The discussions explored how businesses can reduce their reliance on primary raw materials, recover value from production waste and improve operational efficiency.

Mkhitar Avetisyan, the circular economy expert at GEFF in Armenia, highlighted that businesses often find the greatest value in recovering materials they already produce rather than treating waste as a cost.

A dedicated session introduced the financing and technical support available through EBRD’s GEFF in Armenia, including eligible circular economy technologies, the Green Technology Selector, technical assessments and financing through partner financial institutions. Participants also learned about the steps involved in assessing investment feasibility and developing circular economy ideas into financeable projects.

“Businesses in Armenia are already finding practical ways to turn waste into value. Through GEFF in Armenia, we want to make it simpler for companies to assess circular technologies, access financing and move from idea to investment,” said Gernot Kuhlisch, Project Manager, GEFF in Armenia.

Presentations from Circullartex and Sunhome Stepanavan Guest House provided practical examples of how circular economy investments can deliver financial and operational benefits across different sectors.

Circullartex transforms textile leftovers from other producers into yarn, threads, towels, socks, bed linen and knitted products. By using recovered textiles, the company reduces its need for primary raw materials and eliminates certain processing stages. As the materials retain their original colours, Circullartex can also produce coloured threads without additional dyeing, reducing material consumption and production costs.

Sunhome Stepanavan Guest House shared its experience and demonstrated how circular economy can work on a smaller scale. The guesthouse owner’s story illustrated how resource-efficiency and waste-reduction measures can work in the hospitality sector. Its initiatives have helped reduce electricity costs by approximately 60%, improve water-use efficiency in garden irrigation by around 40%, and reduce organic waste through composting.

Participants noted that small and medium-sized enterprises, such as guesthouses and small manufacturers, can achieve measurable savings with relatively simple investments, provided they have access to suitable financing and advice.

A panel discussion that followed examined the opportunities and challenges of developing and financing commercially viable circular economy projects in Armenia.

Moderated by Silva Mesropyan, President of the Armenian Circular Economy Coalition, the discussion featured:

• Zara Ohanyan, National Programme Manager and Head of Advisory, EBRD;
• Harutyun Alpetyan, Programme Manager and Waste Governance Expert, AUA Acopian Center for the Environment;
• Irina Mkrtchyan, Co-founder, Innovative Solutions for Sustainable Development of Communities (ISSD);
• Tigran Gasparyan, Vice CEO, Circullartex.

Panellists discussed key considerations for businesses planning circular investments, including technology selection, project preparation, market demand, regulatory requirements, financing and operational risks. The discussion also explored practical ways to overcome implementation barriers and improve access to suitable technologies, technical expertise and finance.

Financing experts stressed that bankable circular projects depend on clear business cases, reliable material supply and realistic payback periods, and that early technical assessment significantly improves a project’s chances of approval.

The event demonstrated how businesses can translate circular economy opportunities into viable investments, with GEFF in Armenia providing access to financing and technical support to help them identify, assess and implement suitable solutions.