Ameriabank set to receive $45 million in loans this year

27.01.2010 21:32
Ameriabank set to receive $45 million in loans this year

YEREVAN, January 27, /ARKA/ Armenian Ameriabank is set to receive $45 million worth loans from IFC, FMO и DEG, Ameriabank CEO Artak Anesian said at a news conference today.

IFC, a member of the World Bank Group, approved earlier a $15 million loan to Ameriabank to help it finance the development of small hydro power plants in the country. IFC will also provide advisory services to help Ameriabank assess and review projects, with a focus on environmental and financial aspects.

Late last year, IFC provided the bank with a $5 million trade-finance guarantee, allowing it to expand financing for the foreign trade transactions of its clients throughout the country.

According to Anesian, FMO/DEG will provide the bank with a $30 million loan- $20 million will be allocated to businesses and $10 million to development of small hydropower plants.

‘We are planning to seek another $15 million from a lending organization, but I would not like to name it as our negotiations are still in process,’ he said.

Ameriabank is owned fully by TDA Holding Ltd, an affiliation of one of the biggest Russian investment companies Troika Dialog.  -0-

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