VTB Bank (Armenia) CJSC announced a drop in interest rates for small business lending in AMD by 3-4%.

From November 15, 2010, to March 1, 2011, VTB Bank (Armenia) will provide loans for small businesses at 14% annual interest rate, if borrowers are registered or implement basic activity of their business in Yerevan, ant at 13% interest rate for borrowers outside Yerevan. Loans are allocated for a five-year term at the amount of AMD 4-60mln, the bank’s press service reported.

“VTB Bank (Armenia) makes another step to improve terms of small business lending, simultaneously promoting the development of small business in Armenia’s regions. We create favorable conditions for our clients to develop their business, relieving them from foreign currency risks and providing them with long-term and affordable funds,” said Director of the Retail Business Development at VTB Bank (Armenia).