Ameriabank signs $20 M equivalent local currency facility agreementSeptember 11, 2019 - 12:15 AMT PanARMENIAN.Net - FMO (Dutch Entrepreneurial Development Bank) and Ameriabank CJSC signed $20 million equivalent Local Currency Facility Agreement channeled to “green” projects and youth financing in Armenia, the bank said Wednesday, September 11. The 7-year facility will be dedicated to renewable energy and energy efficiency projects as well as first time home mortgage, education and business loans to persons younger than 35. This is the first local currency loan issued by FMO on its own books in Armenia. “This is another remarkable achievement which we celebrate with our long-standing partner FMO since 2009. This agreement creates new opportunities for the economic development of the country and for improving welfare of the population. Financing of renewable energy and energy efficiency projects will further promote sustainable development of the energy sector while ensuring efficient use of energy amongst the enterprises and population. New funding opportunities for young people will trigger growth of entrepreneurship in our country and will raise the living standards of the population”, - said Artak Hanesyan, Chairman of the Management Board-CEO at Ameriabank. FMO's Chief Investment Officer Linda Broekhuizen said: "FMO is proud of its strong and successful relationship with Ameriabank, supporting the further economic development of Armenia. This new loan facility will enable Ameriabank to support renewable energy and energy efficiency projects, and to increase access to finance to young entrepreneurs." Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |