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Linda Broekhuizen, Chief Investment Officer at FMO: “This $20 million loan agreement fits with FMO’s strategy to reduce inequalities. Armeconombank will on-lend the raised amount to underserved clients, i.e. Micro Enterprises, Women and Young Clients, which will contribute to the development of Armenia’s economy.”

Aram Khachatryan, CEO of AEB says: “The cooperation between ARMECONOMBANK and FMO, the Dutch Development Bank, was launched in 2010. Throughout three decades ARMECONOMBANK OJSC has emphasized the importance of cooperation with international organizations, the evidence of which is the comprehensive partnership record with first class IFIs witnessed by the successful projects and the level of trust towards the Bank.”

About FMO

FMO is the Dutch development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a more than 45-year proven track-record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: Financial Institutions, Energy, and Agribusiness, Food & Water. With a committed portfolio of EUR 9.6 billion spanning over 82 countries, FMO is one of the larger bilateral private sector developments banks globally. For more information: please visit www.fmo.nl.