Ardshininvestbank CJSC was granted first credit tranche of USD 3 million under the loan agreement signed with the Asian Development Bank at the beginning of December 2011.

The funds allocated with be used for financing small and medium-sized enterprises (SMEs) as the bank’s target group.

“Remaining USD 12 million will be utilized for lending to SMEs in 2012,” Chairman of Ardshininvestbank Management Board Mher Grigoryan said, adding that entire branch network will be involved in the process of providing sub-loans with 12% and above interest rate per annum with a tenor of up to 5 years.