Ameriabank earns two IFC Awards for achievements in trade finance sectorFebruary 25, 2020 - 14:31 AMT PanARMENIAN.Net - Ameriabank CJSC, Armenia’s largest bank, has been named the Best Bank Partner for Equipment Trade in Europe and Central Asia and the Best Issuing Bank in the Caucasus and Central Asia for 2019 by IFC, a member of the World Bank Group. This is the second consecutive time that Ameriabank is receiving the award for Best Issuing Bank in Caucasus and Central Asia. The two awards reflect Ameriabank’s success in raising short and long-term trade finance with IFC-guaranteed letters of credit under IFC’s Global Trade-Finance Program (GTFP). These funds are channeled among others into agriculture, road construction, and to enable businesses to purchase energy-efficient state-of-the-art equipment.
Georgina Baker, IFC Vice President for Europe, Central Asia, Latin America, and the Caribbean, presented the awards to Ameriabank in Yerevan. She said, “Trade finance is a key priority for IFC because of the strong impact it can have on fostering economic activity and development. With IFC-supported trade transactions, Ameriabank, our long-term partner in Armenia, has supported imports of modern and energy-efficient equipment for road construction and greenhouses, contributing to economic growth and job creation. These two well-deserved awards recognize Ameriabank’s excellence in furthering our mission in Armenia.” The award for Best Partner Bank for Equipment Trade in Europe and Central Asia is being presented for the first time this year. It was introduced to recognize the best and most active partners in the recently launched medium-term extension of GTFP, which covers eligible trade transaction tenors of up to five years in support of imports of equipment and capital goods with the focus on climate change.
Andrew Mkrtchyan, Chairman of the Board of Directors of Ameriabank, commented, “We highly appreciate the IFC awards. It is a great honor for us to be the first recipient of a newly-established award in Europe and Central Asia. We began cooperation with IFC in trade finance in 2009 and since then have been able to substantially increase trade-finance activities in Armenia. I am sure that our joint efforts will promote development of the Armenian banking sector and the synergy will contribute to economic growth in our country.” Ameriabank CJSC The first investment bank in Armenia, Ameriabank is a universal bank offering innovative corporate, investment and retail banking services in a comprehensive package of banking solutions. 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 | 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. |