Proparco (a subsidiary of the French Development Agency, which operates in the development of the private sector) and Ameriabank signed a loan agreement of USD 20 million. The amount of the provided financing is planned to be directed to the implementation of projects of vital importance in Armenia in terms of energy efficiency, renewable energy, agriculture, food processing, education and health care, business support, promotion of economic growth and creation of jobs. Long-term financing with flexible terms will contribute to the growth and expansion of business in the country, as well as to increase the competitiveness of Armenian companies in local and export markets.
This is the second transaction concluded between Ameriabank and "Proparco" company. Proparco's first financial investment in Armenia was made back in 2013, when a loan agreement in the amount of 15 million USD was signed between the company and Ameriabank for the purpose of financing small and medium enterprises, energy efficiency, renewable energy sectors. Three years later, Proparko expands the list of sectors of the economy that should be financed with the funds provided by the new loan agreement signed with Ameriabank.
"We are glad that since 2013 we have been cooperating with Ameriabank, which is considered the leading financial institution in Armenia. This new USD 20 million loan will allow Ameriabank to expand its renewable energy project portfolio and drive the bank's growth in housing, agriculture, healthcare and education lending. Support for the mentioned sectors is clearly established by the policy of "Proparco" company and the French Development Agency," said Guillaume Barbrus, head of financial institutions of "Proparco" company.
"Ameriabank highly values cooperation with Proparko company. This second credit agreement, the amount of which is larger, will definitely expand the scope of our cooperation, serving the interests of our clients representing various industries. We believe that this is a significant day in terms of establishing business relations between Armenia and France. This contract will serve as a serious basis for the diversification of Ameriabank's credit portfolio in the key infrastructures of the Armenian economy," said Artak Hanesyan, General Director of Ameriabank.
About "PROPARCO" company
Proparco is a subsidiary of the French Development Agency, which operates in the direction of private sector development. It has been supporting the implementation of sustainable economic, social and environmental development projects for 40 years.
Proparco provides financing and support to companies and financial institutions operating in Africa, Asia, Latin America and the Middle East.
It seeks to implement cooperation programs in the key sectors of the economy subject to development, namely infrastructure (especially in the field of renewable energy), agriculture, financial institutions, health care and education, etc. sector contribution. In this sense, Proparco finances companies that create decent jobs with decent pay, supply essential goods and services and contribute to the fight to prevent climate change.
For more information, visit www.proparco.fr.
About Ameriabank
"Ameriabank" CJSC is one of the dynamically developing banks of Armenia and ranks among the country's most stable and large financial institutions. It is the first investment bank in Armenia and since 2007 has been providing a wide range of innovative banking services. "Ameriabank" CJSC is a universal bank that provides corporate, investment and retail banking services, providing a complete set of banking solutions. It is also the largest taxpayer bank in Armenia. Since 1992, when the modern banking system of independent Armenia was established, Ameriabank is the first bank in Armenia whose assets exceeded 1 billion USD.