Ardshininvestbank and Eurasian Development Bank have signed a USD 10 million loan agreement
12-11-2014 14:03:48 | Ռուսաստան | Economy
On November 11, 2014 Eurasian Development Bank and Armenian Ardshininvestbank have signed a loan agreement in Moscow. Loan proceeds in amount of USD 10 million will be channeled to the financing of projects implemented by small- and medium-sized enterprises in all regions of the Republic of Armenia. The selection of clients will be made according to criteria agreed with EADB.
The completion of the project will contribute to the creation and development of favorable conditions for sustainablegrowth of small- and medium-sized businesses, enhancement of competitive environment and improvement of competitiveness of SMEs in internal and external markets.
“I highly value the fact, that the funds provided by EADB will contribute to the development of Armenian private sector due toincreased access to long-term financing for SMEs. Today EADB unites its forces with one of the largest financial institutions which has strong positions in the local market and serves among other clients small-, micro- and medium-sized enterprises. Signing of this agreement is a good start for cooperation between EADB and Ardshininvestbank which will certainlyhave tendency to strengthen and evolve,” said Mher Grigoryan, Chairman of the Management Board of Ardshininvestbank.
“Development of small- and medium-sized enterprises is a key condition for overall development of economy, and we are confident that this project will have a positive impact on this process, - mentioned Dmitry Krasilnikov, Deputy Chairman of the Management Board of EADB, -moreover according to EADB’s strategy for 2013-2017 the financing of banking sector for on-lending to SMEs is one of the priority directions of the Bank’s investment activity in Armenia”.
Established in 2002, Ardshininvestbank is one of the leading banks in Armenia and has a large distribution network with over 55 branches all over the country and a strong SME customer base. For additional information please visit www.ashib.am or call +374 (10) 59-04-04.
Eurasian Development Bank is an international financial institution established by Russia and Kazakhstan in 2006 with the aim of facilitatingthe development of market economies,sustainable economic growth and the expansion of trade and other economic ties in its member states.EADB’s charter capital exceeds USD 1,5 billion. Member-states of the Bank are Republic of Armenia, Republic of Belarus, Republic of Kazakhstan,Kyrgyz Republic, Russian Federation and Republic of Tajikistan. For more information about the Bank, please visit http://www.eabr.org.
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