PROPARCO French company allocates $15mln to Ameriabank to support agro enterprises
18.04.2013,
15:46
PROPARCO French financial company, which promotes private investment in developing countries, and Armenia-based Ameriabank signed a $15-million loan agreement on Thursday.
YEREVAN, April 18. /ARKA/. PROPARCO French financial company, which promotes private investment in developing countries, and Armenia-based Ameriabank signed a $15-million loan agreement on Thursday.
Small and medium-size agricultural enterprises will be financed within the agreement.
From Armenian side the agreement was signed by Ameriabank Chairman Artak Anesyan, from the French –Jerome Bertrand Hardy, an investment director at PROPARCO. French Ambassador to Armenia Henry Reno was also present at the ceremony.
Bertrand Hardy said signing this agreement Proparco enters the Armenian market for the first time. The beneficiaries will be agricultural enterprises as agriculture is a priority sphere for the company, according to him.
“We are very happy we can contribute to the advancement of this sphere in Armenia,” he added.
Bertrand Hardy also noted Ameriabank was selected as a partner bank based upon its position at the Armenian market, its financial statistics and experience in agricultural lending.
He expressed his hopes that the company will succeed in maintaining a long-term cooperation with Ameriabank and will continue supporting different projects in Armenia.
Artak Anesyan, on his side, noted the funds will be aimed at supporting small and medium-size agricultural enterprises, agricultural product processors and exporters.
The annual interest rate will depend on the market conditions. The credit will be given for maximum of eight years.
“We are happy that through cooperating with Ameriabank Proparco entered the Armenian market. As far as I know this is the second analogical deal of the organization in South Caucasus,” Anesyan highlighted.
Ameriabank is a universal bank providing investment, corporate and limited retail banking services. Ameriabank is the first investment bank in Armenia. It has been offering a broad range of innovative banking services since 2007.
Created in 1977, PROPARCO is a Development Financial Institution partly held by Agence Française de Développement (AFD) and private shareholders from the North and South.
PROPARCO’s mission is to be a catalyst for private investment in developing countries which targets growth, sustainable development and reaching the Millennium Development Goals (MDGs).
With a portfolio worth 2.6 bn€ at 31 December 2011 – up 24% on 2010 – PROPARCO has demonstrated its ability to scale up its activity within a difficult market environment ans now has over 300 clients in 60 countries. -0-
