Time in Yerevan: 11:07:36,   25 May

EBRD to provide 22 million US dollars loan to Ameriabank for investment in small and medium-sized enterprises and energy spheres


YEREVAN, MARCH 20, ARMENPRESS:  Ameriabank CJSC CEO Artak Hanesyan and the European Bank for Reconstruction and Development (EBRD) Yerevan Office Director Valeriu Razlog signed  a cooperation agreement.Within its framework the EBRD will provide $12 million loan to Ameriabank in the sidelines of ''Raise of Energy Efficiency and Small and Medium-Sized Business Financing''program.

The $9 million of the provided sum will be addressed to the financing of small and medium-sized enterprises and 3 million to the financing of restoring energy and energy saving. ''Ameriabank highly rates the cooperation with the EBRD and finds that the involvement of financial means will create new opportunities for diversification,'' Artak Hanesyan told the reporters on Wednesday, adding that the funding of small and medium-sized enterprises is one of the priorities of the Ameriabank’s loan policy and this loan will help to raise the volume of bank’s crediting of small and medium-sized businesses, Armenpress reports.

He also said the project will essentially promote the development of small and medium-sized enterprises and growth of their competitiveness both in internal and external markets. The EBRD’s financing will also help to increase the electricity production and promote the effective usage of energy resources and energy saving.
EBRD Yerevan Office Director Valeriu Razlog said this contract will help to provide available financing to small and medium-sized enterprises and noted that the other goal of it is development of energy.




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