ACBA-Credit Agricole Bank to finance Armenian exportersJune 8, 2016 - 11:35 AMT PanARMENIAN.Net - ACBA-Credit Agricole Bank signed a memorandum of cooperation with Armenia’s Export Insurance Agency (EIA) to finance exporting companies by means of the Agency’s insurance certificates on condition that deferred payments be used for exporting goods. ACBA-Credit Agricole Bank CEO Hakob Andreasyan said export insurance will enable the Bank to more easily implement cash assets financing (export factoring) with exporter companies. According to him, the product will minimize the risks both for the bank and exporters. “The Agency seeks to promote exports from Armenia,” EIA Executive Director Vazgen Abgaryan said, in turn. “The most important component of our insurance toolkit is to secure accessible collateral-free and reliable financial resources for exporters. The deal will give a new impetus to raising awareness of the Agency’s services among the host of ACBA customers, especially those in Armenia’s provinces.” “I am confident that the product will be in great demand in the local market and contribute to increasing the competitiveness of Armenian exporters, expanding production and opening new markets,” Bagaryan added. 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |