  EFSE provides $5mln loan to Araratbank October 1, 2010 - 18:12 AMT PanARMENIAN.Net - The European Fund for Southeast Europe (EFSE) provided the first loan to Araratbank at the amount of $5mln. The funds will be directed for lending small and medium businesses in remote rural areas of Armenia, the bank press service reported. This is the second investment of EFSE in Armenia from 2009. CEO of Araratbank Ashot Osipyan said that cooperation with EFSE is viewed as a condition for new developments in financing small and medium businesses. He expressed confidence that cooperation with the Fund will be long-term and efficient. “Due to our new partner – Araratbank – we will be able to expand our activity in the region, while the provided funds will allow the bank to allocate loans to 320 small and medium businesses of the country,” said Chairman of the Board of Directors of EFSE Klaus Glaubitt.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year  German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year.Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan.Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan.Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |
