ArmInfo. In announcing the 10th anniversary of cooperation, HSBC provided Armenia with one of its largest loans - 55 million euros. As explained to ArmInfo in the press service of HSBC Bank Armenia, these funds will be used to restructure the loan of the former shareholder of Electric Networks of Armenia (ESA).
Chief Executive Officer of HSBC Bank Armenia Paul Edgar is optimistic about strategic cooperation with ESA: "This transaction is based on trust and long-term partnership, and shows our consistency aimed at facilitating investments in the development of a stable and secure energy system in Armenia."
For his part, ECA Director General Karen Harutyunyan noted that loan funds are attracted without state guarantees, said: "This transaction will play a positive role in the process of financial recovery of ESA, and will help the company become more reliable, sustainable and efficient."
It should be noted that "HSBC Bank Armenia" CJSC, a member of the HSBC Bank plc group, was registered by the Central Bank on June 20, 1995. The shareholders of the bank are HSBC Europe BV with 70% equity interest and 30% Wings Establishment. As of July 1, 2017, the bank's assets are 215 billion drams ($ 444.7 million), of which 140 billion drams (over $ 291 million) of loan investments.
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