May 10, 2019 - 17:24 AMT
PanARMENIAN.Net - The Development Bank of Austria (OeEB) and Ameriabank CJSC have signed a financing agreement in the amount of $30 million, the Armenian bank said in a statement on Friday, May 10.
The facility will be dedicated to financing small and medium sized enterprises (SMEs), as well as renewable energy and energy efficiency projects in Armenia.
The long-term facility with flexible terms will support the growth and expansion of SME business activities in Armenia and increase competitiveness in the local and foreign markets. Renewable energy financing will further promote sustainable development of the clean energy sector while ensuring efficient use of energy amongst the enterprises and population.
“We highly appreciate the relationship with our long standing partner OeEB, which started back in 2013. Supporting small and medium-sized businesses is one of Ameriabank’s priorities. This cooperation will help us to open new doors for small and medium-sized businesses to support Armenia’s economy and create new jobs. This agreement will also serve as a solid ground for our loan portfolio diversification in key sectors of the country’s economy and further improvement of our environmental footprint ”, said Artak Hanesyan, CEO of Ameriabank.
“Access to energy and access to finance are prerequisites for economic development. This is why OeEB’s main focus is to promote clean energy and energy efficiency and to support small and medium-sized businesses. Ameriabank shares these goals which makes it an ideal partner for us. We are happy to extend our successful partnership and to continue to work together to create sustainable development”, said Sabine Gaber, member of OeEB’s executive board.
The first investment bank in Armenia, Ameriabank 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. Ameriabank is the leading bank in Armenia as measured by all key financial indicators (assets, liabilities, loans portfolio, net profit and equity) according to the 2018 year reportable data.