{"id":39211,"date":"2012-07-17T15:37:09","date_gmt":"2012-07-17T15:37:09","guid":{"rendered":"https:\/\/armbanks.am\/2012\/07\/17\/236009\/"},"modified":"2024-12-15T12:58:31","modified_gmt":"2024-12-15T12:58:31","slug":"ebrd-will-provide-armenian-acba-credit-agricole-bank-with-30-million-syndicated-loan","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/07\/17\/39211\/","title":{"rendered":"EBRD will provide Armenian Acba-Credit Agricole Bank with $30 million  syndicated loan"},"content":{"rendered":"<p><strong>YEREVAN, July 17. \/ARKA\/<\/strong>. As commercial funding for small businesses in the Caucasus remains scarce, the EBRD is making a new step to support financial institutions that provide loans to micro, small and medium-sized enterprises in local currency.<\/p>\n<p>The EBRD is arranging a senior syndicated loan to ACBA Credit Agricole Bank (ACBA-CA) to expand the bank\u2019s MSME lending, in urban as well as rural areas, where there is strong demand for longer-term, local currency funding.<\/p>\n<p>The loan in Armenian drams to the equivalent of US$ 30 million will consist of US$ 15 million equivalent for the EBRD\u2019s own account, and the remaining US$ 15 million equivalent will be syndicated to FMO, the Netherlands Development Finance Company, one of the world\u2019s largest development finance institutions.<\/p>\n<p>The project will provide longer term MSME funding in local currency in a market dominated by FX denominated loans. It will also demonstrate that Armenian financial institutions can access the syndicated loan market despite current market volatility.<\/p>\n<p>ACBA-Credit Agricole is the largest bank in Armenia by total assets and capital. It is a leading provider of finance to farmers and agribusinesses in the country and a significant player in the MSME segment with a well-established branch network and franchise.<\/p>\n<p>Since the beginning of its operations in Armenia, the EBRD has invested about US$ 650 million in the country in about 110 projects, mobilising almost the same amount from other sources of financing. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As commercial funding for small businesses in the Caucasus remains scarce, the EBRD is making a new step<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15909,15837,12174,308],"class_list":{"0":"post-39211","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-banks-en-en","7":"category-news","8":"tag-acba-credit-agricole-bank-2","9":"tag-armenia-2","10":"tag-ebrd","11":"tag-308"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/39211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=39211"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/39211\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=39211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=39211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=39211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}