The Eurasian Development Bank has provided Ardshinbank with a $ 20 million credit line for trade finance purposes

ArmInfo. The Eurasian Development Bank (EDB)  proposed  Ardshinbank JSC  with  $ 20 million revolving credit  facility for a period of 3 years. The corresponding agreement was  signed on June 28, 2017 by Managing Director for Assets and  Liabilities of EDB Dmitry Ladikov-Roev and Chairman of the Board of  Ardshinbank  JSC Mher Grigoryan.

The funds are intended to finance the foreign trade operations of  clients of Ardshinbank JSC clients  in EDB. member states. One  hundred percent of the loan will be used to finance export-import  transactions between the member states of EDB. Facility  can be  provided in US dollars, Euros, Russian rubles or other currencies of  the member states of the EDB. The agreement will facilitate the  expansion of mutual trade between the member states of the EDB and  thereby create prerequisites for deepening the integration processes  between them.

The Eurasian Development Bank (EDB) is an international financial  organization established by Russia and Kazakhstan in January 2006 to  promote the development of the market economy of the participating  countries, their sustainable economic growth and the expansion of  mutual trade and economic ties. The authorized capital of the EDB is  $ 7 billion. The member states of the Bank are the Republic of  Armenia, the Republic of Belarus, the Republic of Kazakhstan, the  Kyrgyz Republic, the Russian Federation and the Republic of  Tajikistan.

"Ardshinbank" CJSC, which is the second largest bank in Armenia, has  one of the largest retail chains, consisting of 64 branches.  Ardshinbank is the only private individual in Armenia, which has been  assigned ratings of two international rating agencies (Moody's and  Fitch), equal to Sovereign rating.