YEREVAN, October 21, /ARKA/. The European Bank for Reconstruction and Development (EBRD) said it is extending US$ 17 million in two facilities to Inecobank, a long standing partner bank in Armenia, to further support the development of the country’s private sector.

The EBRD is increasing the availability of financing to private businesses in Armenia with a US$ 6 million loan for financing medium-sized companies through a funded participation in Inecobank loans under the Medium Sized Co-financing Facility. Another US$ 11 million loan is provided for on-lending to small and medium companies (SMEs).

Established in 1996, Inecobank is a dynamically developing bank with a focus on MSME sector and a strong market position in consumer lending. It is the 11^th bank in Armenia by total assets and is among the top 3 by efficiency indicators - ‘Return on equity’ and ‘Return on assets’.

Categories: Banks @en, General news, News, News of the hour | Comments Off on Inecobank gets EBRD financing for on-lending to private businesses in Armenia

Tags: Armenia, EBRD, financing, Inecobank

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Number of Ameriabank’s trade financing contracts currently in force doubles.

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Tags: Ameriabank, Armenia, contracts, financing

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The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for on-lending to small and medium companies (SMEs), the EBRD press-release stated.

Categories: Banks @en, Economy @en, General news, News | Comments Off on EBRD to support ArmSwissBank with 8 mln USD on-lending to small and medium companies and trade finance

Tags: Armenia, ArmSwissBank, BUSINESS, EBRD, financing

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