Eurasian Development Bank signs $30 million loan agreement with Armenian Ameriabank
16.12.2010,
23:31
The Eurasian Development Bank (EDB) has signed today a five-year loan agreement with Armenian Ameriabank for opening a $30 million credit line for financing small and medium-sized enterprises (SME) in Armenia.
YEREVAN, December 16, /ARKA/. The Eurasian Development Bank (EDB) has signed today a five-year loan agreement with Armenian Ameriabank for opening a $30 million credit line for financing small and medium-sized enterprises (SME) in Armenia.
‘The financing will be provided under the EDB’s ongoing Programme of Support for Small and Medium- Sized Businesses by Providing Target Facilities to Financial Institutions,’ said Marat Jaukenov, deputy president of EDB. He said small and medium-sized businesses in Armenia are of strategic importance accounting for 40% of its Gross Domestic Product (GDP).
The project will assist the creation of a favorable climate for the sustainable development and competition of Armenian SMEs and enhancing their competitiveness domestically and internationally, and strengthen the infrastructural and institutional bases of the market economy, he said.
Ameriabank is the second Armenian bank, after Armbusinessbank, to have signed a loan agreement. With EDB. The first project here has created 600 jobs.
Marat Jaukenov said the loan will be on-lent to finance development of small hydropower plants, pharmaceutical and food industries, as well as agriculture.
Ameriabank CEO Artak Anesian said the loan will help it strengthen its position in Armenia and boost SME sector.
The Eurasian Development Bank (EDB) is an international financial institution founded by Kazakhstan and Russia to foster economic growth and integration processes in the Eurasian region. In April 2009 Armenia and in June 2009 Tajikistan, in June 2010 Belarus became full members of the EDB after having paid in their shares in the charter capital of the Bank. The Bank’s charter capital exceeds US$1.5 billion.
Ameriabank is owned by TDA Holding, an affiliation of one of the largest Russian investment companies Troika Dialog. According to ARKA data, as of September 30 its combined assets totaled 152.5 billion Drams, net outstanding credits – 90.3 billion Drams. In the first nine months it earned 2 billion Drams in net profits. ($1- 360.91 Drams). -0-
‘The financing will be provided under the EDB’s ongoing Programme of Support for Small and Medium- Sized Businesses by Providing Target Facilities to Financial Institutions,’ said Marat Jaukenov, deputy president of EDB. He said small and medium-sized businesses in Armenia are of strategic importance accounting for 40% of its Gross Domestic Product (GDP).
The project will assist the creation of a favorable climate for the sustainable development and competition of Armenian SMEs and enhancing their competitiveness domestically and internationally, and strengthen the infrastructural and institutional bases of the market economy, he said.
Ameriabank is the second Armenian bank, after Armbusinessbank, to have signed a loan agreement. With EDB. The first project here has created 600 jobs.
Marat Jaukenov said the loan will be on-lent to finance development of small hydropower plants, pharmaceutical and food industries, as well as agriculture.
Ameriabank CEO Artak Anesian said the loan will help it strengthen its position in Armenia and boost SME sector.
The Eurasian Development Bank (EDB) is an international financial institution founded by Kazakhstan and Russia to foster economic growth and integration processes in the Eurasian region. In April 2009 Armenia and in June 2009 Tajikistan, in June 2010 Belarus became full members of the EDB after having paid in their shares in the charter capital of the Bank. The Bank’s charter capital exceeds US$1.5 billion.
Ameriabank is owned by TDA Holding, an affiliation of one of the largest Russian investment companies Troika Dialog. According to ARKA data, as of September 30 its combined assets totaled 152.5 billion Drams, net outstanding credits – 90.3 billion Drams. In the first nine months it earned 2 billion Drams in net profits. ($1- 360.91 Drams). -0-
