Tue, 1 July
29.1 C
Yerevan
USD: 385.32 RUB: 4.91 EUR: 455.06 GEL: 141.61 GBP: 530.70

Araratbank attracts $10 million loan from German DEG

YEREVAN, January 12. /ARKA/. Armenia-based Araratbank said today it has signed a $10 million loan agreement with German Deutsche Investitions und Entwicklungsgesellschaft mbH.

According to a press release, placed on Araratbank’s official website, this is the second loan agreement signed with the German lending organization. The new loan will be used to provide long-term financial resources to local small and medium-sized companies.

The bank also said that $1 million of the loan will be channeled into German companies operating in Armenia.

The first loan agreement with DEG to the tune of $10 million Araratbank concluded in 2015.
Araratbank is owned by Flash oil trader (64.25%) EBRD (25%) and RURAL IMPULSE FUND II SA SICAV SIF (10%). It joined NASDAQ OMX Armenia stock exchange in 2009 January. -0-

spot_img

POPULAR

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

AMX Reaffirms Compliance with International ISO Standards

The Armenia Stock Exchange and Central Depository (AMX) have successfully completed their compliance certification with ISO 27001:2022 for Information Security Management and ISO 9001:2015 for Quality Management Systems.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

LATEST NEWS

spot_imgspot_imgspot_img