YEREVAN, September 29, /ARKA/. The European Bank for Reconstruction and Development (EBRD), in cooperation with the European Union (EU) is holding a trade finance conference to increase awareness and facilitate better access to the trade finance instruments for the small and medium size enterprises (SMEs) in Armenia.
The EBRD said in a press release that the event will take place at the Elite Plaza Business Center in Yerevan, on 1-2 October 2014. During the two-day event, the internationally renowned industry experts will discuss the opportunities and challenges the local entrepreneurs face in accessing trade finance in Armenia.
The EBRD Financial Institutions’ Director for Central Asia, Caucasus and Mongolia, Mike Taylor, will open the conference at 09:00 on Wednesday, 1 October, welcoming and addressing over 150 conference participants.
The conference will see a number of high profile speakers as well as representatives of local SMEs, commercial banks and various business associations discussing the current trends in trade finance and the development needs of this sector. It will feature panel discussions, presentations and case studies of successful trade finance transactions in Armenia from the invited experts, local and foreign commercial banks and representatives of local SMEs.
“The EBRD remains a committed partner in Armenia paying a special attention in supporting the local SMEs which play a leading role in the development of the trade sector. We would like more companies to be fully aware of all the financing options available to them and be in position to use those alternatives,” said Mike Taylor, EBRD Director for Central Asia, Caucasus and Mongolia, Financial Institutions.
“I would also like to thank EBRD’s long standing partner banks, Armeconombank and Ameriabank, the lead sponsors of the event, who have greatly contributed in supporting better access to available trade finance for the SMEs,” he continued.
“This is an important event for Armenia, a unique opportunity to bring together so many trade finance experts and key local stakeholders to discuss and address the industry challenges”, said Maria Mogilnaya, Analyst within the EBRD’s Trade Facilitation Programme. “Organised together with the EBRD’s Small Business Support, this event will contribute to expanding SME access to trade finance in Armenia.”
Armen Naljyan, Chief Executive Officer, Armeconombank, said “By enhancing the utilisation of trade finance tools we encourage the development of SME sector in Armenia, moreover – we gain new possibilities to participate in supporting local production and, therefore, introducing that production to international markets.”
Gagik Sahakyan, Corporate Banking Director at Ameriabank, said, “Highlighting the important role of SMEs in the economic development of Armenia, Ameriabank has tailored the trade finance policy to meet the specific needs of financing SMEs. As a result, during the past 8 months from the beginning of this year, Ameriabank’s trade finance portfolio increased by 17%, while in year-on-year terms the growth reached 43%. The outstanding growth was attributable to both consistent work of bank staff as well as trade finance programmes implemented with IFI’s and especially projects designed by the EBRD’s Trade Facilitation Programme.”
EBRD is grateful to the Armeconombank, Ameriabank, Araratbank, Armswissbank and Inecobank for sponsoring the event and to the Armenian Chamber of Commerce and Industry and the Foundation for Small and Medium Businesses for their support and collaboration in organising this conference. -0-
