Ameriabank signs 80th deal under EBRD TFP

PanARMENIAN.Net - Ameriabank signed their 80th trade finance deal covered by the Trade Facilitation Programme of the European Bank for Reconstruction and Development (EBRD).

The cooperation between the bank and the EBRD commenced on Sept 30, 2010 and since then trade finance deals in the total amount of over USD70 million have been signed.

Ameriabank highly appreciates the long-standing partnership with the EBRD, as one of the most reputable international organizations, the bank said in a press release. This partnership has enabled the bank to finance many local companies, including small and medium businesses, in various sectors of Armenian economy with flexible, tailor-made terms.

The EBRD granted “confirming bank” status to Ameriabank in 2013, which availed Ameriabank with new capacities. More specifically, trade finance tools such as LCs and bank guarantees became more accessible for local exporters.

In May 2014 Ameriabank won the EBRD’s TFP Deal of the Year Award. This award is granted annually by the EBRD only to one bank from among its partner banks all over the EBRD’s countries of operations.

During their long-standing cooperation Ameriabank and the EBRD have co-financed several key projects fostering Armenian economy, in particular in the sectors of telecommunication, energy, agricultural, trade, manufacturing, etc.