YEREVAN, January 21. / ARKA /. Armenian Ardshininvestbank said in a press release today that in December 2012 it had financed the delivery of the first batch of agricultural machinery to Armenia manufactured by John Deere company. “The delivery of agricultural machinery will be completed by spring 2013; the total funding will amount to 1.4 million euros,” the bank said.
The financing was made through letter of credit secured by the German credit agency Euler Hermes Deutschland AG, with the subsequent provision of financial resources by German bank Landesbank Baden-Wurttemberg (LBBW) repayable in 5 years.
In implementing this project Ardshininvestbank worked closely with CARD Agroservice, the official representative of John Deere in Armenia. The imported machinery has high performance and will be leased to existing and potential customers of Ardshininvestbank.
John Deere Company was founded in 1837 in the United States. Today, Deere & Company is one of the most successful engineering companies and one of the largest manufacturer of agricultural and road-building equipment in the world.
Ardshininvestbank has 49 branches in Armenia, six branches in Nagorno-Karabakh and a representation in Paris. It provides a wide range of banking services. -0-
