Armenia to get 65 million USD loan from ADB

YEREVAN, NOVEMBER 24, ARMENPRESS:

The Asian Development Bank has approved the provision of 65 million USD loan to Armenia for the expansion of small and medium-sized business. Press service of the ADB Armenia Office reported that the loan will be provided to four Armenian banks with five year term. The banks, in their turn, will provide them to small and medium-sized enterprises. The latter make about 98% of the country's entrepreneurship, ensuring the 40% of employment and GDP.

The intended loans will be provided to "ACBA Credit Agricole", "Ardshinvest", "Ameria" and "Ineco" banks. These banks have committed to expand the crediting of the SMBs.