YEREVAN, January 31./ARKA/. ACBA Bank and the Japan International Cooperation Agency, JICA, are launching a partnership, as a result of which ACBA Bank will invest $50 million in the development of micro, small and medium-sized enterprises in Armenia.
This partnership is the first for JICA with an Armenian commercial bank, the press service of ACBA Bank reported.
The cooperation agreement between ACBA Bank and JICA was signed at the National Gallery of Armenia, as a symbol of creativity and development. The event was attended by the Ambassador of Japan to Armenia, Aoki Yutaka.
“JICA is signing an agreement on a commercial basis for the first time in Armenia, and is alunching partnership with ACBA Bank. We continue to expand the list of our international partners, making our partnership more global, including Japan, one of the developed countries of the world. I must say that this is an opportunity for the development of our country’s economy, our country’s financial system, and small and medium-sized businesses,” said Hakob Andreasyan, CEO of ACBA Bank.
“We know that ACBA Bank is committed to the development of the agricultural sector, promotion of micro, small and medium-sized enterprises, and the development of the rural community. These are essential factors for the further development of the Armenian economy, where agriculture is of exceptional importance,” said Takehiro Yasu, Director General of the Private Sector Partnership and Finance Department at JICA.
“Agriculture, small and medium-sized businesses are areas where we have great potential. However, at the same time, there are many limitations here in terms of financing and risk sharing. Such initiatives are extremely important in this area. The Central Bank welcomes this cooperation and we hope that this partnership will develop, encompassing more programs. This is a strategic direction for us,” said Armen Nurbekyan, Deputy Chairman of the Central Bank.
“The signing of the partnership agreement between ACBA Bank and JICA is important and significant in terms of access to and provision of financial resources. The attraction of financial resources within the framework of this cooperation will enable SMEs to expand their activities and discover new prospects, becoming competitive in both local and international markets,” noted Deputy Minister of Economy of Armenia Lilya Sirakanian.
ACBA Bank and JICA are already discussing the implementation of new future programs and joint projects that will contribute to economic growth in Armenia.
Details in the video.
The bank is supervised by the Central Bank of the Republic of Armenia.-0-
