Ameriabank, DEG sign $20mln loan agreement

PanARMENIAN.Net - Ameriabank cjsc and DEG -Deutsche Investitions-und Entwicklungsgesellschaft mbH have signed a USD 20 mln loan agreement.

According to a press release, the eight year loan facility will be dedicated to financing SME projects of Ameriabank’s Corporate and SME clientele.

“This is another remarkable achievement which we celebrate with our long-standing partner DEG and we are pleased to see this partnership evolving into a strategic one. The loan agreement will allow us to continue financing the SME sector, one of the main drivers of the Armenian economy. Under this loan facility small and medium enterprises will be able to obtain long-term financing to expand their businesses, strengthen their competitiveness and create new jobs,” commented Artak Hanesyan, the General Director.

“SMEs are a major engine behind economic growth. This is why the promotion of these enterprises is a matter of particular concern to DEG. With our commitment, we enable our experienced and reliable partner Ameriabank to further expand its financial offer. At the same time, we are fostering the Armenian financial sector, facilitating the access to long-term investment capital especially for small and medium-sized enterprises,” said Dr. Andreas Zeisler, Head of Financial Institutions at DEG.