Thursday, November 15 2012 16:58
`DEG provides Ameriabank with a USD 20 mln loan for on-lending to small and medium enterprises
ArmInfo. Ameriabank CJSC and DEG (Deutsche Investitions-und Entwicklungsgesellschaft mbH) have concluded a USD 20 mln loan agreement. The press service of Ameriabank reports that the eight-year loan facility will be dedicated to financing SME projects of Ameriabank's Corporate and SME clientele.
"This is another remarkable achievement which we celebrate with our long-standing partner DEG and we are pleased to see this partnership evolving into a strategic one. The loan agreement will allow us to continue financing the SME sector, one of the main drivers of the Armenian economy. Under this loan facility small and medium enterprises will be able to obtain long-term financing to expand their businesses, strengthen their competitiveness and create new jobs", - commented Artak Hanesyan, General Director of Ameriabank CJSC.
"SMEs are a major engine behind economic growth. This is why the promotion of these enterprises is a matter of particular concern to DEG. With our commitment, we enable our experienced and reliable partner Ameriabank to further expand its financial offer. At the same time, we are fostering the Armenian financial sector, facilitating the access to long-term investment capital especially for small and medium-sized enterprises," said Dr. Andreas Zeisler, Director of Financial Institutions.
DEG, a subsidiary of KfW, finances investments of private companies in developing and transition countries. As one of Europe's largest development finance institutions, it promotes private business structures to contribute to sustainable economic growth and improved living conditions.
According to the Ranking of Armenian Banks by the Agency of Rating Marketing Information, as of 30 Sept 2012 Ameriabank lent 127.3 bln AMD to the economy (1st position in the market, 15.4% y-o-y growth). 13% (21.3 bln AMD) of the loans in the Bank's loan book were loans provided to SMEs (25.7% y-o-y growth, almost 12% growth for Jan-Sept 2012).
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