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Inecobank signs $8 million loan agreement with DWM Asset Management to boost SME

27.12.2011 12:11

Inecobank signs $8 million loan agreement with DWM Asset Management to boost SME

YEREVAN, December 27./ARKA/. Armenian Inecobank and DWM Asset Management investment company, signed a loan agreement worth $8 million to finance micro, small and medium-sized businesses in Armenia, Inecobank told ARKA Monday.

Inecobank said it has been cooperating with DWM Asset Management since 2009 to contribute to the development of small and medium enterprises in Armenia. The deal was mediated by Symbiotics company with which Inecobank has also been cooperating for two years already to finance micro businesses.

"Inecobank appreciates the assistance of international organizations in boosting micro, small and medium enterprises in Armenia. The resources to be provided by DWM Asset Management will enable our clients to attract loans at more favorable terms," Inecobank CEO, Avetis Baloyan, was quoted as saying in a bank’s press release.

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