YEREVAN, October 24. /ARKA/. The European Investment Bank (EIB) and the Armenian Central Bank signed a 50 million euro agreement October 22 for financing small and medium businesses, the Central Bank said.
According to it, the loan will be provided to the Central Bank, which will make it available to SMEs.
The loans will be provided mainly to finance those projects, which are aimed at stimulating exports, tourism, agriculture and the processing of agricultural products, the Central Bank said.
“Lending programs financed by the EIB play a special role in Armenia in the context of increasing financial affordability. These programs direct local businesses towards competitive and stable development, and help establish the culture of “green” financing among mediator companies,” the chairman of the Central Bank Arthur Javadyan said.
This is the third private sector financing program resulting from the cooperation between EIB and the Central Bank of Armenia. Since 2014 to this day, 100 million euros have been provided by EIB for financing Armenian SMEs -0-
