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World Bank to provide Armenia with a fresh $118 million worth credits

17.02.2012

YEREVAN, February 17. /ARKA/. The World Bank may provide Armenia with a fresh $12 million credit as an assistance to the government in its efforts to reform taxation administration, and with another $15 million loan to help it improve water supply systems in urban communities, World Bank Country Director in Armenia, Jean-Michel Happi, said to a news conference today.

On February 14 the World Bank’s Board of Executive Directors had approved a US $11 million credit, the Third Additional Financing for the Social Investment Fund III (ASIF III) Project for Armenia that will further assist the government of Armenia in its efforts to improve the living standards of the poor and vulnerable groups by expanding labor-intensive infrastructure projects in response to critical needs of the local communities and another $80 million credit (Third Development Policy Operation – DPO) designed to help Armenia to protect its poorest children, women and men, support greater human capital development, and reinforce competitiveness by providing a more favorable private sector environment and strengthening governance.

Mr. Happi said today the discussions of the release of $12 and $15 million credits are expected to be completed in the coming weeks. He said also the World Bank continues consultations and discussions with the government of Armenia on funding other projects.

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Tags: Armenia, Credit, WB

Volume of credit investments of Armenian commercial banks increased by 2.8%

08.12.2011

Volume of credit investments of Armenian commercial banks in October 2011 compared to September 2011 increased by 2.8% making at the end of October 1 212.3 billion drams, states the bulletin of Central Bank of Armenia for October 2011.

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Tags: Armenai, Banks, Credit

UCO “Farm Credit Armenia” Plans In 2012 To Increase Its Credit Portfolio And Leasing Operations To 70%

30.11.2011

UCO “Farm Credit Armenia” plans in 2012 to increase its credit portfolio and leasing operations to 70%, said General Director of UCO Armenia Gabrielyan.

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Tags: Armenia, Credit, Farm Credit Armenia, Portfolio, UCO

Credit organizations’ Aggregate net profit grows 64% to amd 5.5 billion in jan-sept 2011

17.11.2011

Credit organizations’ aggregate net profit grew 64% or by AMD 2.2 billion in Jan-Sept 2011, compared with the same period a year earlier, to AMD 5.5 billion.

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Tags: Armenia, Credit

Areximbank-Gazprombank Group opens credit lines for payment of gas bills

14.11.2011

Areximbank-Gazprombank Group said it has launched a new service for its customers offering credit lines for payment of natural gas bills.

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Tags: AREXIMBANK, Credit, gas

Armenian Banks’ Aggregate Credit Investments In Resident Economy Grow 2.6% To AMD 1104.7 Billion

10.11.2011

Armenian banks’ aggregate credit investments in the country’s resident economy reached AMD 1104.7 billion by late September 2011 after growing 2.6% or by AMD 29.6 billion, compared with August.

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Tags: Armenia, Banks, Credit, INVESTMENTS

Credit portfolio of the branches of the banks in Karabakh as of November is 53.6 billion drams

09.11.2011