Friday, January 20 2012 17:21
IFC to invest more in Armenian economy in 2012
ArmInfo. The International Finance Corporation (IFC) is going to intensify its lending activities in Armenia in 2012 and to increase its loan book to $70mln, Arman Barkhudaryan, the coordinator of investment programs of the IFC in Armenia, said during a press-conference on Friday.
He said that the IFC is open for business proposals and is considering the possibility of lending more funds to Armenian banks. "In the last years we have gradually increased our investments in the Armenian economy: in 2009 we invested $5mln, in 2010 35mln, in 2011 $70mln. This was due to growing demand for loans and our efforts to centralize our activities. We have cooperated with ACBA-Credit Agricole Bank, Ameriabank and Armeconomy. We have also acted outside the banking sector: in 2011 we issued loans in the field of agribusiness," Barkhudaryan said.
Armenia joined the IFC in 1995, with 28 programs worth $147mln approved so far in the fields of finance, production, power engineering and mining. The IFC owns 10% of the shares of Arfshininvestbank and INECOBANK and a stake in the capital of the Lydian International mineral exploration and development company.
