Moscow, 11 November 2014. Eurasian Development Bank (EDB) signed today a loan agreement with Ardshininvestbank, according to which this Armenian bank will receive US $10 million for five years to finance small and medium-sized enterprises (SMEs) in Armenia. The agreement was signed by Dmitry Krasilnikov, Deputy Chairman of the Management Board at EDB, and Mher Grigoryan, Chairman of the Management Board at Ardshininvestbank.
Ardshininvestbank will select sub-borrowers on its own from SMEs who meet EDB criteria and provide them targeted sub-loans for the advancement of their businesses.
The project will help to create and develop favourable conditions for the sustainable advancement of SMEs, the enhancement of competition, and the improvement of SME competitiveness in domestic and foreign markets. It is being implemented in the framework of EDB-run Programme for the Support and Development of SMEs by Providing Targeted Loan Facilities to Fi...11 November, 2014
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