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-
