Eurasian Development Bank provides a US $20 million credit line to Ardshinbank for trade finance

Almaty, 28 June 2017. Eurasian Development Bank (EDB) has provided a US $20 million revolving credit line to Ardshinbank for 3 years. The agreement was signed on 28 June 2017. The signatories were Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, and Mher Grigoryan, Board Chairman of Ardshinbank.

The funds are to be used to finance foreign trade transactions of Ardshinbank’s clients in EDB member states. 100 percent of the loan proceeds will be used to finance export and import transactions between EDB member states. The financing can be extended in US dollars, Euros, Russian roubles, or another local currency of EDB member states.

The agreement will facilitate expansion of mutual trade between EDB member states, thus, creating prerequisites for their deeper integration.

Additional Information:

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

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