Thursday, December 22 2011 16:48

EBRD to lend money to Byblos Bank Armenia and Finca UCC


ArmInfo. The European Bank for Reconstruction and Development (EBRD) is planning to sign next week credit agreements with Byblos Bank Armenia and Finca Universal Credit Company, Head of the EBRD Yerevan Office Valeriu Razlog said in an interview to ArmInfo.

He refused to specify the amounts.

He said that in 2011 EBRD has lent 80mln EUR in different sectors of Armenia's economy, mostly in the private sector.

Razlog said that EBRD will continue funding Armenia's economy. Since 1992 the bank has financed almost 100 projects worth a total of 470mln EUR.

EBRD cooperates with 12 Armenian commercial banks and holds a 25% stake in Byblos Bank Armenia.

Finca UCC was licensed in Mar 2006.
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