ADB extends $15mln loan to Ardshininvestbank for SME crediting

ADB extends $15mln loan to Ardshininvestbank for SME crediting
December 9, 2011 - 15:53 AMT

PanARMENIAN.Net - Ardshininvestbank has attracted new funds for financing small and medium-sized enterprises in Armenia. On Dec 8, the bank signed a $15 million loan agreement Asian Development Bank have, with trade finance agreement concluded in March, 2011.

As Mher Grigoryan, Chairman of the Management Board of Ardshininvestbank stated, “intensifying cooperation with Asian Development Bank is an important event for Ardshininvestbank. Enhancing relations with small and medium-sized businesses is a strategic priority for the bank. The funding combined with potential arrangements from other donors will allow the bank to offer more attractive pricing to small and medium businesses.”

Special emphasis will be put on promotion of women-owned and managed enterprises to decrease gender discrimination and create equal conditions for women entrepreneurs.

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