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EDB issues $30 million to Ameriabank for SME financing

EDB issues $30 million to Ameriabank for SME financing

PanARMENIAN.Net - Eurasian Development Bank and Ameriabank CJSC have signed $30 million credit line agreement for 4 years to develop small and medium-sized business sector in Armenia, the bank said in a statement.

This project will contribute to the expansion of the banking sector and business lending as well as to the development of the real sector of economy.

Small and medium business plays a strategic role for Armenia. It ensures economic stability of the country. EDB loan facility will help SMEs to solve the problem of long-term financing required for capital investments.

Eurasian Development Bank (EDB) is an international financial institution established by the Russian Federation and Kazakhstan in January 2006 to promote economic growth in its member states and extend trade and economic ties among them. The bank’s charter capital totals USD 7 billion. Member states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Republic of Kirgizstan, the Russian Federation and the Republic of Tajikistan.

Ameriabank is first investment bank in Armenia, which has been providing a large package of innovative banking services since 2007. Now Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions.

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