YEREVAN, November 18. /ARKA/. The European Investment Bank (EIB) and Armenia’s Central Bank signed an agreement today whereby EIB will provide a loan of 50 million Euros to the Central Bank to finance various projects of small and medium-sized agricultural and tourism companies.

The EIB loan is being provided to the Central Bank of the Republic of Armenia, which will make the EIB funds available to eligible SMEs and MidCap companies throughout the country via numerous financial intermediaries, including banks and universal credit organizations, EIB said in a press release. The loan is further EU measure to support Armenian businesses and is provided in the context of the EU4 Business initiative, it said.

EIB Vice-President Jan Vapaavuori stated: “EIB funds intermediated through the Central Bank of the Republic of Armenia, a well-established partner of the EIB, will improve the access of Armenian SMEs and Mid-Caps to long-term finance in local currency on favorable terms. This will contribute to the diversification of the Armenian economy and private-sector development and will have a positive influence on job creation in the country”.

Categories: Banks @en, General news, News, News of the hour | Comments Off on European investment bank is lending eur 50 million to finance projects promoted by SMEs and MidCap companies in Armenia

Tags: Armenia, companies, EIB, LOAN, MidCap, SME

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