Ameriabank signed USD 20 million senior debt facility agreement with DEG (Deutsche Investitions-und Entwicklungsgesellschaft mbH). The signing ceremony took place on May 12 in London during EBRD annual meeting. This long-term facility will be dedicated to financing of Small and Medium sized Enterprises (SMEs) in Armenia.

SMEs play an essential role for the development and stability of Armenia’s economy, assessed at around 40% of the country’s GDP and most of its employment. The loan term facilities provided by DEG will support the growth in business activities in Armenia by facilitating access to finance for local SMEs.

“We are delighted to continue our valuable partnership with DEG, the fundament of which lays back to 2009,– featuring a landmark long term senior loan agreements between our esteemed institutions. This credit facility will help the Bank to further strengthen its position in the SME lending segment contributing to the economic growth of the country.” commented Artak Hanesyan, CEO of Ameriabank.