Friday, February 14 2020 18:22

ARARATBANK attracted another loan from FMO - $ 10 million to finance  SMEs and green business projects

ARARATBANK attracted another loan from FMO - $ 10 million to finance  SMEs and green business projects

ArmInfo.The Netherlands Development Bank (FMO) provided ARARATBANK with another loan - this time in the amount of $ 10 million. According to the Bank's press  service, the funds will be used to develop SMEs, finance energy  saving projects or the so-called "green business".

According to the source, in the framework of this regular program,  micro-businesses will be provided with loans in the amount of up to $  10 thousand, SMEs - up to $ 1 million. The loan repayment term is set  at 5 years.

The funds raised from FMO will allow not only to expand access to  credit in the country, but also help to increase the competitiveness  of SMEs, especially since the program provides for a component of  lending to energy-saving projects.

The previous $ 20 million loan agreement between FMO and ARARATBANK  dates back to April 2018, and these funds were aimed at lending to  SMEs, women entrepreneurs and financing business programs of young  businessmen under the age of 35, along with their retail lending.

According to ARARATBANK, by January 1, 2020, credit investments and  other loans reached 135.9 billion grants. Assets of the Bank as of  this date amounted to 222.6 billion drams, and total liabilities -  185.2 billion drams. The total capital of ARARATBANK by January 1,  2020 amounted to 37.4 billion drams. The Bank completed the year 2019  with a net profit of 2.4 billion drams, with an annual growth of this  indicator 4.7-fold.  

To recall, ARARATBANK OJSC has been operating since November 2005.  The majority shareholders of ARARATBANK as of January 1, 2020 are:  one of the largest oil traders in Armenia -the Flash company with a  72.33% equity stake, Barsegh Beglaryan (a well-known entrepreneur,  the head of Flash) - 22.62%, the Rural Impulse Fund II (part of the  Belgian Incofin Investment Management - Incofin IM) - 4.29%.

To note, FMO is one of the largest banks in the world stimulating the  development of the private sector.  The bank focuses on 3 main areas  contributing to economic growth - financial institutions, energy and  agribusiness, food and water management. An FMO portfolio covering  over 90 countries is valued at 9.6 billion euros. On credit programs,  FMO in Armenia, along with ARARATBANK, also works with INECOBANK and  Ameriabank.


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Government Bonds

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

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000