Wednesday, December 20 2017 17:04
Karine Melikyan

Export Insurance Agency of Armenia and Converse Bank signed memorandum on cooperation

ArmInfo. Armenian Export Insurance Agency (AEIA) and Converse Bank CJSC signed a memorandum on cooperation to implement a program aimed at increasing the production of economic entities resident in Armenia, export development and expansion of sales markets.

The development of the economy in Armenia, the development of competitive products in international markets, support for exports are one of the most important areas of Converse Bank's business. Within the framework of the Memorandum, Converse Bank will provide financial resources to RA resident companies for replenishment of working capital, under a simplified procedure and affordable interest rates. These funds can be used for both production of goods and post-export stages. A pledge for financing is not required - insurance certificates issued by AEIA will be accepted as a means of securing the loan, "said Arthur Hakobyan, Converse Bank Chief Executive Officer." I am convinced that as a result of cooperation with Converse Bank, the demand for AEIA services will grow even more, which will be contribute to increasing the competitiveness of exporters and expanding export opportunities, "said Executive Director of AEIA Armen Shahnazaryan in his turn.

Converse Bank provides a full range of banking services: loans, deposits, payment cards, investment and custodial services, remote services, online payments, etc. As of 30.09.2017 the Bank's assets are 233.5 billion AMD, liabilities - 198.6 billion AMD, and total capital - 34.9 billion AMD.

JSC "Export Insurance Agency of Armenia" was founded in 2013by the decision of the Government of the Republic of Armenia with the aim of encouraging exports by small and medium-sized enterprises and increasing the availability of financial resources for them.

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Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

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