// IP Marketing video - START// IP Marketing video - END

EDB to provide Areximbank-Gazprombank Group with $10 million for SME loans

EDB to provide Areximbank-Gazprombank Group with $10 million for SME loans

PanARMENIAN.Net - Areximbank-Gazprombank Group CJSC and the Eurasian Development Bank (EDB) signed a $10 million loan agreement on March 12 to finance small and medium enterprises.

The document was signed in Yerevan by general director of Areximbank-Gazprombank Group CJSC Armen Khandkaryan and EDB deputy chairman Dmitry Zhurba.

“Our bank continues to strengthen international ties, and today we are signing a loan agreement for SME financing,” Khandkaryan said adding that assistance to SME development is a priority for the bank and the “development spine for any economy”.

Head of the bank also informed that the cooperation between Areximbank-Gazprombank Group and EDB will not be limited to this agreement; the bank holds talks with EDB to launch a credit line for development of trade financing, as well as getting funding to credit energy-saving projects.

For his part, Zhurba said that EDB is expanding its cooperation with Armenia’s finance sector, with $50 million allocated to this field since its operation in the country. “I’m happy to see the process keeps going, and we find further points of contact,” he emphasized.

 Top stories
Mountea, an Armenian company producing tea from the mountain herbs has begun to export its products to Russia.
20,149 optical-mechanical devices were manufactured in the reporting period against the 3,388 produced in the same period last year.
Yandex and Uber said they will join forces in the six countries to create a new company operating in some 127 cities.
“A more efficient and reliable energy distribution network is important for economic growth in Armenia”, - said Sonali Tang.
Partner news