13.07.2016 18:50
YEREVAN, July 13. /ARKA/. IFC, a member of the World Bank Group, is partnering with IAB International Academy of Business to help Armenian banks strengthen risk management systems, so that they continue providing much-needed finance to businesses, amid the challenges in operating environment, IFC says in a press release.
IFC’s advisory team and IAB International Academy of Business are launching a series of workshops for banks on risk management and non-performing loans (NPLs) over the next 12 months, part of efforts to reinforce the stability of the financial institutions and prevent further NPLs.
The initiative also aims to help financial institutions introduce innovative solutions for small and medium enterprises (SMEs), helping the banks expand this line of business and increase lending to smaller businesses. Access to finance was identified as the main challenge for SMEs by the World Economic Forum’s Global Competitiveness Report 2015-2016.
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