05May
The Eurasian Development Bank provided 30 million USD to Ameriabank CJSC for financing the SME sector in Armenia.
The Eurasian Development Bank and "Ameriabank" CJSC signed a 30 million USD credit line agreement for a period of 4 years. It will enable Armenia to promote the development of small and medium enterprises.
The implementation of the project will contribute to the expansion of banking activities, including business lending, and will also allow the development of sectors of the real sector of the economy.
Small and medium enterprises are of strategic importance for the Republic of Armenia. They ensure the stability of the economy. Said financing will help SMEs to solve the problem of long-term financing required for capital investments.
The Eurasian Development Bank is an international financial institution established by the Russian Federation and Kazakhstan in January 2006 in order to promote the development of the market economy of the member countries, ensure sustainable economic growth and establish trade and economic ties. The authorized capital of EDB is 7 billion US dollars. The Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Republic of Kyrgyzstan, the Russian Federation and the Republic of Tajikistan are members of the EDB.