YEREVAN, September 7, /ARKA/ The Eurasian Development Bank (EDB) has granted Ardshinbank a credit line in the amount of USD 20 million for a period of 3 years to provide financial support to the country’s small and medium-sized businesses. A relevant agreement was signed on September 7, 2021 by EDB Management Board Chairman Nikolay Podguzov, and Ardshinbank Management Board Chairman Artak Ananyan.
“Close interoperability with the Eurasian Development Bank has since long been a good tradition for us. Intended for the SME sector, the first USD 10 million-worth arrangement was signed back in 2014. In 2017 the EDB provided Ardshinbank with USD 20 million to finance foreign trade operations and support and finance private Armenian enterprises operating in the territory of the Eurasian Economic Union.
Those funds contributed to the improvement of the socio-economic situation in the country, having raised the employment level in small and medium businesses.
The new loan in the amount of USD 20 million will serve as another strong impetus in terms of expanding Ardshinbank’s small and medium-sized business support capabilities,” Ardshinbank Management Board Chairman Artak Ananyan said during the signing ceremony. Highly appreciative of the current status of interaction with the EDB, he noted in particular that the EDB has a reliable and strategic partner in Armenia’s financial market in the face of Ardshinbank.
“We will continue to move towards both expanding the loan and involving our bank in new programs covered by the EDB’s regional strategy,” Artak Ananyan said.
In turn, EDB Management Board Chairman Nikolay Podguzov emphasized that the EDB seeks to create SME-friendly environments in EDB-member countries, considering that the SME sector plays a pivotal role in small economies.
This new arrangement signed with Ardshinbank will take to USD 171 million the overall volume of EDB investments in Armenia’s financial sector, and these funds will help propel the country’s socio-economic development, since the emergence of new companies and thriving entrepreneurship implies new jobs, new export opportunities and growth of related industries and infrastructure.
“As a vivid evidence of EDB’s confidence in the strategy and prospects of Ardshinbank, this loan will help expand the range of banking services provided to small and medium - sized businesses,” the Eurasian Development Bank Management Board Chairman underscored.
Ardshinbank is supervised by the Central bank of the Republic of Armenia. -0-

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on Eurasian Development Bank provides Ardshinbank with USD 20 million to support SMEs

Tags: Ardshinbank, Armenia, EDB, SMEs

Read more

Fitch Ratings has affirmed Armenia’s Ardshinbank CJSC’s (Ardshin) Long-Term Issuer Default Rating (IDR) at ‘B+’ with a Negative Outlook

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on Fitch Affirms Ardshinbank at 'B+', Outlook Negative

Tags: Ardshinbank, Fitch

Read more

As part of the annual survey to compile the Rating of the safest banks in the world, the famous American magazine “Global Finance” for the fourth time recognized Ardshinbank as “The Safest Bank in Armenia for 2020”

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on Ardshinbank is recognized as the Safest Bank in Armenia in 2020

Tags: Ardshinbank, Armenia, Safest Bank

Read more

Fitch Ratings has revised the Outlooks on ACBA-CREDIT AGRICOLE CJSC’s (ACBA) and Ardshinbank CJSC’s (Ardshin) Long-Term Issuer Default Ratings (IDRs) to Negative from Stable and affirmed the IDRs at ‘B+’, according to the agency’s press release

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on Fitch affirms ratings of ACBA-CREDIT AGRICOLE BANK and Ardshinbank at ‘B +’, revises outlooks to Negative from Stable

Tags: ACBA-Credit Agricole bank, Ardshinbank, Fitch, Negative, stable

Read more

Ardshinbank has received the fifth facility from the Black Sea Trade and Development Bank (BSTDB) in the amount of USD 20 million to support small and medium-sized enterprises (SMEs) in Armenia

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on Ardshinbank and the Black Sea Trade and Development Bank have signed a USD 20 million loan agreement

Tags: AGREEMENT, Ardshinbank, BSTDB, LOAN

Read more

Fitch Ratings has affirmed ACBA-Credit Agricole Bank CJSC’s (ACBA) and Ardshinbank CJSC’s (Ardshin) Long-Term Foreign-Currency Issuer Default Ratings (IDRs) at ‘B+’ with Stable Outlooks

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on Fitch affirms ACBA-CREDIT AGRICOLE and Ardshinbank at 'B+'; outlook stable fitch ratings-Moscow-18 March 2020:

Tags: ACBA Credit Agricole, Ardshinbank, Fitch, Ratings

Read more

Ardshinbank said it has successfully priced its new RegS / 144A US$300mm 5-year eurobonds rated Ba3 by Moody’s and B+ by Fitch

Categories: Bonds.am @en @en, General news, News, News of the hour | Comments Off on Ardshinbank successfully issued 5-year USD 300 million Eurobonds

Tags: Ardshinbank, Eurobonds

Read more

Fitch Ratings has assigned ‘B+’/ ‘RR4’ to the Eurobonds of Armenia’s Ardshinbank, issued in the largest-ever for Armenia amount – USD300 million, at the lowest rate – 6.5% and the maturity term in 2025

Categories: Bonds.am @en @en, General news, News, News of the hour | Comments Off on Fitch assigns 'B+'/ 'RR4' to Eurobonds of Armenia's Ardshinbank

Tags: Ardshinbank, Armenia, Eurobonds, Fitch

Read more

Ardshinbank has issued Eurobons in unprecedented amount – USD 300 million at the lowest ever interest rate – 6.5%, Armenian Prime Minister Nikol Pashinyan reported Thursday on his Facebook page

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on Ardshinbank issues Eurobonds totaling $300 million

Tags: Ardshinbank, Eurobonds

Read more

For the first time, Ardshinbank has implemented a trade finance deal with the International Bank for Economic Cooperation (IBEC) under the General Financing Agreement signed in September 2019, the press office of Ardshinbank reported on Friday

Categories: Banks @en @en, General news, News, News of the hour | Comments Off on IBEC provides of €3.5 million to Ardshinbank as pre-export financing

Tags: Ardshinbank, financing, IBEC

Read more