VTB Bank (Armenia) has received a $5mln tranche from the European Bank for Reconstruction and Development (EBRD) for small business financing.

“The program offers solvent debtors to use reliable financial sources for up to 5-year term and 12% interest rate,” said Artak Khachatryan, head of VTB Bank (Armenia) retail department.

In January 2009, the EBRD issued $10mln to VTB Bank (Armenia) for small business financing.