Wed, 11 June
26.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Development Bank of Austria provided Armenian banks with 30 million euros credit lines since 2011

YEREVAN, April 28. / ARKA /. The Development Bank of Austria (OeEB) has provided Armenian banks with a total of 30 million euros credit lines since 2011, OeEB board member, Andrea Hagman, told a news conference today in Yerevan. She said the funds were provided for on-lending to local small and medium businesses.

“Despite the small size, the Armenian market is important to us, because apart from small and medium businesses, we see also potential in other areas, including the renewable energy and energy efficiency sector, which we are going to pay special attention to,” she said.

She explained that the bank has provided the 30 million euro credit lines to Ameriabank and Inecobank, and plans to open another 10 million euro credit line for Inecobank this year, which will also focus on lending to small and medium-sized enterprises in the field of renewable energy and energy conservation.

The Development Bank of Austria is a government-owned institution providing long-term financing to private sector programs in developing countries to ensure sustainable development. OeEB also provides technical assistance, which can be used to extend the results of development projects. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img