YEREVAN, March 7. /ARKA/. Armenian banks will provide 16 million euros worth loans to women entrepreneurs as part of EBRD's Women in Business program, which is being implemented in the Eastern Partnership countries, Zara Ohanyan, the project coordinator in Armenia, told journalists on Tuesday.

She said the total cost of the program is 55 million euros. The program is designed for all countries of the Eastern Partnership. Another 4.5 million euros will be provided to banks to cover their risks. This is expected to allow them to reduce the costs of credit services.

Two Armenian banks - Ameriabank and ACBA-CREDIT AGRICOLE BANK, joined the program in 2016 December. Today Araratbank signed a memorandum to join it as well. It will also provide affordable loans to women entrepreneurs under this project.

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Tags: Armenia, Banks, EBRD, women in business program

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