BlueOrchard Finance SA, a global leader in commercial microfinance investments, recently announced that it has executed debt investments totaling USD 10,000,000 in Armenia to Inecobank CJSC.

Inecobank, established in 1996 and focused on Micro-, Small- and Medium-size Enterprises, has received the loans from the Dexia Micro-Credit Fund (“DMCF”), one of eight funds managed by BlueOrchard Finance.

“We are thrilled to reinforce our commitment to the Caucasus by financing Inecobank, an institution that has been successfully serving micro-entrepreneurs in Armenia for over a decade,” said Jean-Pierre Klumpp, CEO of BlueOrchard Finance.

“Microfinancing is one of the strategic directions for Inecobank and we are glad to start cooperation with Blue Orchard, a leading microfinance institution investing worldwide. In 2010 we launched a number of microfinance development projects and financed more than 1,600 micro businesses,” said Avetis Baloyan, the CEO of Inecobank.