Armeconombank signs $10 million loan agreement with German DEG

22.12.2017 17:04
Armeconombank signs $10 million loan agreement with German DEG

YEREVAN, December 22. /ARKA/. Yerevan-based Armeconombank has signed a loan agreement with Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG) to the tune of $10 million, a statement on the bank’s website says.

It says the bank will lend the funds to Armenian SMEs, which will have to use part of the loans to purchase Germany-made equipment and services.

The bank said it has signed this year a total of $42 million worth loan agreements with international lending organizations for financing Armenia-based micro, small and medium-sized businesses and trade.

Armeconombank was founded in 1991. Armeconombank has been a member of NASDAQ OMX Armenia since 2009, and since July 2015 a member of the settlement system of securities of the Central Depository. The shareholders of the bank are Sukiasyan Saribek - 31.32%, Sukiasyan Khachatur - 13.77%, Sukiasyan Robert - 14.21%, Sukiasyan Eduard - 10.66% and the EBRD - 5.04%. -0-


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