Areximbank-Gazprombank Group to increase credit portfolio to SMEsSeptember 2, 2011 - 12:51 AMT PanARMENIAN.Net - A contract on participation in World Bank’s program in small and medium enterprises lending was signed between the Central Bank of Armenia and Areximbank-Gazprombank Group CJSC on August 30. Areximbank-Gazprombank Group CJSC considers fostering SME one of its long-term directions, according to bank’s press service. Recently the bank has considerably increased volumes of small and medium enterprises lending in the framework of CBA refinancing and, according to 2010 data, was among the top three in SME lending in the banking system, tightly partnering with international financing organizations in the field. The bank is also a participant in a KfW mortgage lending program and IFAD’s Rural Areas Economic Development project. In the first six months of 2011, Areximbank-Gazprombank Group CJSC has already ensured 30% credit portfolio growth of AMD 63 billion, with assets increasing by 20% to total AMD 80.5 billion. 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 | EU to provide budgetary support to Armenia The agreement is aimed at increasing the competitiveness of the educational system of Armenia. Aliyev: No peace treaty unless Armenia changes constitution Azerbaijan will not sign a peace treaty with Armenia unless the latter changes its constitution, Azerbaijani President Ilham Aliyev said. Azerbaijan proposes Armenia to jointly seek cancelation of Minak Group The Azerbaijani President maintained that the move will show “how sincere Armenia is.” Seven injured in massive gas station explosion in Armenia The Investigative Committee of Armenia has unveiled details about a massive explosion at a gas station on the Yerevan-Sevan highway. |