Sun, 14 September
18.1 C
Yerevan
USD: 383.47 RUB: 4.56 EUR: 449.96 GEL: 142.03 GBP: 519.91

Acba bank to Allocate $50 Million for MSME Development

YEREVAN, December 13. /ARKA/. As a result  of a new collaboration between Acba bank and the International Finance Corporation (IFC), Acba bank will allocate $50 million to finance and develop micro, small, and medium enterprises (MSMEs) in Armenia.

Through this new partnership, IFC will share the credit return risk for loans provided by Acba bank, covering up to 50% of the $50 million portfolio. This collaboration will allow Acba bank to further expand its financing for MSMEs across Armenia.

“This new partnership with IFC is a significant project aimed at supporting micro, small, and medium enterprises. The program is about  sharing risks—IFC’s support allows us to be bolder and more active in financing MSMEs. I believe we can rapidly allocate these funds,” said Hakob Andreasyan, CEO of Acba bank.

“This risk-sharing partnership with Acba bank is vital for Armenia as it promotes the sustainable and inclusive development of the country. Through this project, we aim to support MSME financing in Armenia, particularly by addressing challenges they face in attracting financial resources. It is crucial that women-owned enterprises also benefit from this partnership, as financing barriers are especially prominent among women-owned SMEs, rural areas, and agribusinesses,” noted Marcelo Castellanos, IFC’s Senior Regional Manager for the Financial Institutions Group in Europe.

The bank is supervised by the Central Bank of Armenia. -0-

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Central Bank of Armenia initiates discussions on draft by-laws related to Law on Cryptoassets

The Central Bank of Armenia is set to conduct a public discussion on  the draft by-laws essential for implementing the Law on Cryptoassets, which became effective on July 4 of this year, as reported by the regulator's press service.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Market capitalization in August increased by 41.4% year-on-year to 460 billion drams – Armenia Stock Exchange

Armenia Stock Exchange (AMX) has summarized the trading activity for August 2025. The month showed a dynamic trading environment, highlighting growing investor confidence and market activity.

LATEST NEWS

spot_imgspot_imgspot_img