EFSE provides $5mln loan to AraratbankOctober 1, 2010 - 18:12 AMT PanARMENIAN.Net - The European Fund for Southeast Europe (EFSE) provided the first loan to Araratbank at the amount of $5mln. The funds will be directed for lending small and medium businesses in remote rural areas of Armenia, the bank press service reported. This is the second investment of EFSE in Armenia from 2009. CEO of Araratbank Ashot Osipyan said that cooperation with EFSE is viewed as a condition for new developments in financing small and medium businesses. He expressed confidence that cooperation with the Fund will be long-term and efficient. “Due to our new partner – Araratbank – we will be able to expand our activity in the region, while the provided funds will allow the bank to allocate loans to 320 small and medium businesses of the country,” said Chairman of the Board of Directors of EFSE Klaus Glaubitt. 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. |