As part of loan agreements signed with EBRD (London) and BlueOrchard Finance SA (Geneva), ProCredit Bank will allocate additional USD 10mln in 2011 for the development of SMEs.

The Bank also negotiates with other reputable international institutions to attract new credit funds and provide them to the local market.

Ashot Abrahamyan, Deputy Executive Director of the Bank, said: “SMEs make a dynamic part of Armenia’s economy and play a significant role in ensuring social and economic stability of the country. We will do our best to use this cooperation to the benefit of our customers, allowing them to expand their financial opportunities and business, access new and more attractive markets. At the same time, this cooperation enables us to strengthen our positions at the market and enlarge our client base.”