OFID partners with Armenia

OFID is co-financing a 250 megawatt power plant that will help Armenia expand and diversify its power generation sources. OFID signed the US$25 million loan with ArmPower on March 4, 2019. ArmPower is a special purpose company owned by Renco Power (owned by Italian Renco Spa and Simest Spa) and Siemens Project Ventures (part of German Siemens Financial Services). To date, OFID has committed more than US$190 million in public and private sector loans to support sustainable development in the country. #SDG7