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Byblos Bank Armenia launches its $5-million program of financing small- and mid0scale businesses

Banks

YEREVAN, December 29. /ARKA/. Byblos Bank Armenia has already embarked on implementation of its $5-million program, the bank’s press office reported on Wednesday. Under the agreement with OFID and OPEC, the bank will lend money to small- and mid-scale businesses. Loans will be extended for up to five years at preferential interest rates.

The OPEC Fund for International Development is an intergovernmental development finance institution established in 1976. Lebanese BYBLOS BANK SAL holds 65% of Byblos Bank Armenia, European Bank for Reconstruction and Development holds 25%, and the remaining 10% belong to OPEC Fund for International Development. M.V.-0—

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