YEREVAN, November 26, /ARKA/. Armenian Ardshininvestbank said today it has received the second credit tranche of USD 5.0 million under the loan agreement for USD 10.0 million signed with the American company “World Business Capital” (WBC) on 14th March, 2013, guaranteed by the U.S. Government’s Development Finance Institution OPIC (The Overseas Private Investment Corporation).
The bank said the first tranche in an equal amount of USD 5.0 million has been successfully utilized. Like in case of the first tranche, these funds will be channeled into financing small and medium-sized enterprises (SMEs), which are the Bank’s main target group.
Mher Grigoryan, Chairman of the Management Board of Ardshininvestbank, emphasized: “Actually the whole branch network of the Bank will be involved in this process, providing sub-loans with the interest rate from 10% per annum and a tenor of up to 5 years.”
Ardshininvestbank’s credit portfolio has soared by 23.5 percent in the first nine months of 2013 to 166.1 billion drams.
Ardshininvestbank runs 49 branches across the country, 6 in Nagorno-Karabakh and an office in Paris, France. -0-
