Adshinbank joins EBRD’s trade facilitation program

11.01.2016 18:26
Adshinbank joins EBRD’s trade facilitation program

YEREVAN, January 11. /ARKA/. On December 30, 2015 Armenian Ardshinbank and the European Bank for Reconstruction and Development (EBRD) signed an agreement whereby Ardshinbank joined the EBRD's Trade Facilitation Program as an Issuing Bank.

As part of the agreement EBRD has provided Ardshinbank with a US $10 million limit to be used for trade finance transactions.

The Bank said participation in the Trade Facilitation Program will enable it to expand the scope of its partnership and business geography through participating confirming banks.

Ardshinbank is the second largest bank in Armenia and has one of the broad sales network comprising of 55 branches. Euromoney magazine named Ardshinbank the Best Bank in Armenia in 2015.

On July 2015 Ardshinbank issued US $100 million Eurobond representing the first issuance from any private sector entity in Armenia. Ardshinbank is the only private entity in Armenia with assigned ratings from two international major rating agencies (Moody’s and Fitch) equal to the rating of Sovereign.-0-

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