Ameriabank and FMO signed USD 30 million loan agreement

ArmInfo. Ameriabank CJSC and the Dutch development bank (FMO)  have signed a loan agreement in the sum of USD 30 million. The loan facility is aimed at financing SMEs  led by young entrepreneurs and younger retail clientele.

According to the source, this loan facility will help to increase SME lending volume in Ameriabank and will trigger development of SMEs in Armenia and enhancement of their competitiveness in local and international markets.

"We highly appreciate the relationship with our long standing partner, which started back in 2009. Today we are pleased to announce about a new loan facility agreement, continuing our successful cooperation.  SME and retail business development is one of Ameriabank's strategic priorities, and we see huge potential in youth SME and retail businesses, so expect this new loan facility to be successfully utilized." commented Artak Hanesyan, CEO of Ameriabank on 30 Nov 2017 after signing the Agreement.

"FMO's Chief Investment Officer Linda Broekhuizen commented: "FMO is proud to continue its strong and succesful relationship with Ameriabank, supporting the further economic development of Armenia.  This new loan facility will enable Ameriabank to continue its growth and helps support job creation in the country."

FMO is the Dutch development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development, and has a more than 45-year proven track-record of empowering people to employ their skills and improve their quality of life.FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.0 billion spanning over 92 countries, FMO is one of the larger bilateral private sector developments banks globally.

Ameriabank CJSC is a universal bank that provides investment, corporate and retail banking services in the form of a comprehensive package of banking solutions. The bank has been operating in the Armenian market since October 31, 1996. The branch network of Ameriabank today has 14 divisions: 8 - metropolitan and 6 - regional. As of October 1, 2017, the Bank's shareholders are Ameri Group with 65.8% equity interest, EBRD - 20.7% and ESPS Holding Limited - 13.5%.