YEREVAN, JANUARY 22, NOYAN TAPAN. The European Bank for Reconstruction and Development (EBRD) has extended Armeconombank's repayment period of the first share of credits under the syndicated credit agreement for one year. The bank's CEO David Sukiasian said at the January 22 press conference that January 20 was the repayment date of the first - 5 million dollar share of credits received under the agreement, but EBRD extended the repayment period for a year. The 15 million dollar syndicated credit agreement for small and medium business crediting was signed between Armeconombank and EBRD in December 2007. The EBRD representative Michael Weinsten said that in recent years Armeconombank has achieved success and is considered to be one of the most actively operating banks in terms of trade promotion. In his words, last year Armeconombank was recognized by EBRD as the best Armenian bank within the framework of the Trade Finance Program. M. Weinstein announced that on January 21 Armeconombank was given a 5 million dollar credit line under the International Finance Corporation's Trade Finance Program. This program envisages issuing bank guarantees and providing Armenian companies with cash for conducting export and import transactions.

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