Ameriabank and FMO signed a loan agreement for 40 million euros

ArmInfo. Ameriabank and the Dutch Development Bank (FMO) signed a loan agreement for 40 million euros to finance projects in the areas of renewable energy and energy  conservation, and to promote the activities of young entrepreneurs  and a businesswoman. As ArmInfo explained to the press service of  Ameriabank, under this agreement, the loan will be issued to  borrowers with a maturity of 5 years.

"Ameriabank and FMO have another significant achievement. Financing  renewable energy will contribute to further sustainable development  of the clean energy sector, while ensuring efficient use by  enterprises and Population of Energy Resources of Armenia ", said Ara  Sargsyan, Head of Corporate Finance Department of Ameriabank. FMO  Investment Director Linda Brockhuzen stated:" We are proud of our  strong and successful cooperation with Ameriabank, which is  continuous and contributes to economic development of Armenia. The  new loan funds will allow Ameriabank to develop further and promote  the development of the renewable energy sector and the creation of  new jobs in companies run by young entrepreneurs and a business  leader in Armenia. "

It should be noted that the cooperation between FMO and Ameriabank  began in 2009, and the initial first loan was aimed at financing  small and medium-sized businesses and projects in the field of  renewable energy in Armenia.  Recall that the Netherlands Development  Bank (The Netherlands Development Finance Company-FMO) is the  international development bank of the Netherlands. FMO supports  sustainable growth of the private sector through investment in  ambitious projects and companies in developing countries, firmly  holding the view that it is the strong private sector that is the  basis of social and economic development. For over 45 years, thanks  to the financing of FMO, entrepreneurs have successfully implemented  their capabilities, helping to improve the quality of life of people.  To ensure the best results, FMO focuses its efforts on 3 sectors:  financial institutions, energy, agriculture and food processing.  Possessing an investment portfolio of 9.2 billion euros, covering  more than 82 countries, FMO is one of the largest bilateral private  sector development banks in the world.

According to the Financial Ratings of Banks of Armenia as of July 1,  2018, prepared by ArmInfo IC, Ameriabank continues to lead in terms  of its main financial indicators. The bank's assets amounted to 693.5  billion drams ($ 1.4 billion, first position) with an annual growth  of 6.2%, credit investments - 495.3 billion drams ($ 1.03 billion,  first position) with an annual growth of 17.9%. In the loan portfolio  of the Bank, loans to the economy account for about 84% or 415.5  billion drams ($ 861.5 million, 1st position) with an annual growth  of 13.3%. The first half of 2018, the Bank completed with a net  profit of 5.9 billion drams ($ 12.3 million, 1st position), ensuring  an annual growth of 77.4%. Ameriabank has been operating in the  Armenian market since October 31, 1996. The shareholders of Ameribank  are Ameria Group CY Ltd. - 56.6%, EBRD - 17.8%, Asian Development  Bank - 13.98%, ESPS Holding Limited - 11.62%.