AraratBank signs a € 3 million Loan Agreement with Incofin IM

YEREVAN, April 23. /ARKA/. AraratBank has raised EUR 3 million from two funds advised by impact investor Incofin Investment Management: EUR 1, 5 million from Volksvermogen NV and EUR 1, 5 million from Incofin CVSO providing micro entrepreneurs an access to small loans. 

“The collaboration with Incofin IM since 2012 witnesses the stable and efficient cooperation between the two institutions. It should be underlined that in the conditions of the crisis caused by the COVID-19 pandemic, AraratBank has been always keeping the small and medium enterprises in its spotlight, attaching great importance to the sustainable development of enterprises in support of the country’s economic growth, creation and retention of jobs. Back in December 2020, AraratBank borrowed USD 5 million from Incofin IM-advised Microfinance Enhancement Facility (MEF) to foster the SME sector in Armenia. This time the funds have been raised in euros. It is noteworthy that loans of around 4,000,000 euros of the Bank’s existing loan portfolio have already been disbursed from Incofin funds” noted Mher Ananyan, Chairman of the Executive Board of AraratBank.  

“Araratbank and Incofin work closely together since 2012. As an impact investor, we try to provide support to our clients not only in good times, but also when times are difficult. That is why we are pleased to involve two more Incofin funds in the recent transaction” commented Jan Dewijngaert, Regional Director EECA of Incofin Investment Management.

About Incofin IM

Incofin Investment Management (Incofin IM) is a global independent impact investment company, focused on rural and agricultural finance. Driven by a desire to promote inclusive progress, Incofin strives to provide the support to entrepreneurs’ needs in order to improve to lives of the less privileged people. Incofin IM is an AIFM licensed fund manager and has over EUR 1 billion in assets under management. Incofin has a team of more than 60 professionals spread over the headquarters in Belgium and local investment offices in Cambodia, Colombia, India and Kenya. -0-

spot_img

POPULAR

Armenia’s international reserves reached a record $6.19 billion in July 2026

Armenia's gross international reserves at the end of July 2026 amounted to $6,188.6 million, compared to $5,896.2 million at the end of June, according to a Central Bank report.

A unique greenhouse complex opened in Armenia

A unique greenhouse complex for tomato cultivation, equipped with artificial intelligence, robotics, and the latest technologies, has officially opened in the village of Nor Yedesia in the Aragatsotn region, according to the press service of Acba Bank.

Armenia’s bank rates are responding slowly to the Central Bank’s rate cut, regulator 

Interest rates in Armenia's banking system are adjusting slowly, despite the reduction in the monetary policy rate and short-term market rates.

Record growth of Armenia’s reserves to $6.9 billion in June provided a buffer amid heightened geopolitical risks – S&P

Armenia's international reserves increased by approximately 40% year-on-year to a record $6.9 billion in June 2026, helping to strengthen the country's external reserves despite heightened geopolitical risks, according to a report by international rating agency S&P Global Ratings.

The investment portfolio of Armenian banks in the second quarter amounted to 1.93 trillion drams, a decline of 9.5% year-to-date

The total investment portfolio of commercial banks in Armenia at the end of June 2026 amounted to 1,933,341,220 thousand drams, a decrease of 202.38 billion drams, or 9.48%, year-to-date.

LATEST NEWS

spot_imgspot_imgspot_img