Tue, 10 June
19.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Eurasian Development Bank to provide $15 million loan to VTB Bank (Armenia) to finance Armenian small and medium businesses

YEREVAN, December 11. / ARKA /. The Eurasian Development Bank (EDB) will provide a $15 million loan to VTB Bank (Armenia) for on-lending to small and medium businesses. The agreement to that end was signed in Yerevan  by EDB deputy chairman Dmitry Zhurba and VTB Bank (Armenia) CEO, Yuri Gusev.

Speaking at a news conference after the signing of the agreement,  Dmitry Zhurba said two Russian organizations met in Armenia to sign an agreement on long-term lending  to Armenian  small and medium- businesses. “I think this is a great event and very important,” he said.

On his part, Gusev said  the funds will be provided for starting new businesses, which means  new jobs and a new opportunities.

“We look forward to long-term, effective and mutually beneficial cooperation”,  he said.
He said lending to small and medium-sized businesses will be the bank’s  priority in the following year.

Asked about the interest rates, Gusev said it was a commercial secret, but added they will be among most favorable in Armenia.

VTB Bank (Armenia ) is owned fully by Russian VTB financial group. It runs 69 branches across Armenia, more than any other bank.

The Eurasian Development Bank is an international financial institution established by Russia and Kazakhstan in January 2006 to promote the development of market economies, to support their sustainable economic growth and  expansion of trade and economic ties.  Its authorized capital exceeds U.S. $ 1.5 billion. The member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. Armenia joined it in 2009. -0-

spot_img

POPULAR

Euro and ruble exchange rates to the Armenian dram fell, the dollar rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 6, 2025, increased by 0.06 points compared to June 5 and amounted to 383.46 drams.

Mechanism to stimulate cashless payments to be developed in Armenia

On Friday, the Armenian government held a meeting on issues related to stimulating cashless payments in the country.

Dollar and euro exchange rates to the Armenian dram fell again, while the ruble rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 4, 2025, fell again by 0.1 points compared to June 3 and amounted to 383.76 drams.

AMX introduces remote membership model, opening doors to international investors

The Armenia Securities Exchange (AMX) and the Central Depository have introduced a Remote Membership model, which is aimed at providing access to foreign investors to the Armenia Securities Exchange, the press service of the exchange reported.

Average settlement exchange rate of dram to dollar in May was 0.3% lower than a year ago

In May 2025, the average settlement exchange rate of the Armenian dram to the US dollar was 386.6 drams, which is 0.3% lower than the same indicator in May 2024 (387.8 drams).

LATEST NEWS

spot_imgspot_imgspot_img