17
Nov

ARMECONOMBANK OJSC and INCOFIN CVBA, a Belgian investment company, signed an agreement for USD 10 mln.

ARMECONOMBANK OJSC signed the second loan agreement with INCOFIN CVBA, a Belgian investment company, in the amount of USD 10 mln.  The attracted funds will be directed to the financing of small and micro enterprises promoting thereby the development of Armenian’s economy. 

‘’ The cooperation between ARMECONOMBANK OJSC and INCOFIN CVBA investment company has begun since 2016, when the first loan agreement was signed. The attraction of the second loan with  more amount of money and longer-term  is the best proof of mutual trust and firm cooperation between us,’’  Astghik Manrikyan , Deputy CEO for International Operations  and Development, mentioned in her speech.

It should be mentioned that ARMECONOMBANK OJSC is considered one of the Armenian banks having experience of many years in terms of cooperation with leading international financial institutions.

We would like to remind that ATMECONOMBANK OJSC attracted about USD 39 mln  from international financial institutions in 2016. The attracted funds were used for on-lending of the Bank’s micro and small enterprises , as well as for trade promotion finance.  From the beginning of 2017 up to now, the Bank has attracted about USD 26 mln from international institutions for the same purposes and another loan agreement in the amount of USD 12 mln is planned to sign till the end of the year.