  Araratbank and EFSE sign USD10mln agreement on SME lending June 8, 2011 - 13:59 AMT PanARMENIAN.Net - Araratbank OJSC and the European Fund for Southeast Europe (EFSE) signed a USD 10mln agreement on SME lending. The agreement was signed by CEO of Araratbank Ashot Osipyan and Klaus Glaubitt, Chairman of the EFSE Board of Directors, the bank press service reported. Osipyan praised the level of bank’s cooperation with EFSE, saying that the current loan program is the second one implemented jointly with it. According to him, the new lending program will considerably contribute to SME development in Armenia. “The first loan allocated to Araratbank has served its goal, and we once again provide our assistance to the bank,” said Glaubitt. In 2010, Araratbank increased the volume of credit investments by 57%. Besides, 15% growth was recorded in them in the first quarter of 2011.   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 |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
