YEREVAN, March 15, /ARKA/. IFC, a member of the World Bank Group, announced Monday that the Eurasian Development Bank became the tenth development finance institution to adopt IFC’s Master Cooperation Agreement, which makes it easier for lenders to co-finance projects with IFC in emerging markets.

The agreement standardizes steps that lenders take when joining IFC to co-finance projects, increasing efficiencies and thereby cutting costs to borrowers and lenders throughout the life of a loan. IFC created the agreement in response to calls by G20 nations for increased collaboration among international financial institutions to help meet private sector financing shortfalls during the global financial crisis.

“IFC and the Eurasian Development Bank share a mission of supporting economic development and cross-country economic ties in the region,” said Snezana Stoiljkovic, IFC Director for Eastern Europe and Central Asia, at a signing ceremony. “Global and regional financial institutions need to work together to make a real difference, and this agreement will allow us to get funding more quickly where it’s needed.”

Categories: Banks @en, General news, News, News of the hour | Comments Off on IFC and Eurasian Development Bank sign cooperation agreement

Tags: AGREEMENT, Eurasian Development Bank, IFC

Read more

Bank VTB (Armenia) said today it has signed a long-term partnership agreement with Russian-owned Electrical Networks of Armenia distributing company to handle its special bank account.

Categories: Banks @en, General news, News, News of the hour | Comments Off on Bank VTB (Armenia) signs long-term partnership agreement with electrical networks of Armenia

Tags: AGREEMENT, Bank VTB (Armenia), partnership

Read more

EBRD and Armenian “Bank Anelik” signed new credit agreement in the amount of $3 million (about 1.08 billion drams) on funding of energy saving sphere.

Categories: Banks @en, Economy @en, General news, News, News of the hour | Comments Off on EBRD Provides Credit In The Amount Of $3 Million To “Bank Anelik” For Energy Saving Crediting Program

Tags: AGREEMENT, Armenia, Bank Anelik, Credit, EBRD, erergy

Read more

IFC, a member of the World Bank Group and Armenian Ameriabank signed a General Interest-Rate and Currency Swap Agreement today for risk management.

Categories: Banks @en, Exchange market, General news, News | Comments Off on IFC аnd Ameriabank Sign General Interest-Rate And Currency Swap Agreement

Tags: AGREEMENT, Ameriabank, CURRENCY, IFC

Read more

On Thursday, International Finance Corporation (IFC) and Armenian Inecobank signed agreement on trade funding in the amount of $2 million.

Categories: Banks @en, General news, News, News of the hour | Comments Off on IFC and Inecobank signed agreement on trade funding in the amount of $2 million

Tags: AGREEMENT, Armenia, IFC, Inecobank

Read more

Armenia and European investment bank signed credit agreement of 5 million euro for reconstruction of Yerevan underground

Categories: General news, News | Comments Off on Armenia and European investment bank signed credit agreement of 5 million euro

Tags: AGREEMENT, Armenia, EUROPEAN INVESTMENT BANK

Read more

Armenian finance minister Tigran Davtian and Germany’s ambassador to Armenia, Hans-Johan Schmidt will sign today in Yerevan an agreement on financial cooperation between the two countries for 2009-2010.

Categories: Economy @en, General news, News, News of the hour | Comments Off on Armenia and Germany to sign financial cooperation agreement today

Tags: AGREEMENT, Armenia, Germany

Read more

EBRD and Armswissbanksign $8 million agreement for on-lending to SME

Categories: Banks @en, General news, News | Comments Off on EBRD and Armswissbanksign $8 million agreement for on-lending to SME

Tags: AGREEMENT, Armenia, EBRD, SME

Read more