Yerevan, December 8 /Mediamax/. “VTB Bank (Armenia)” and the European Bank for Reconstruction and Development (EBRD) plan to sign an agreement on a micro-crediting program.

Mediamax reports that the General Director of “VTB Bank (Armenia)” Valeri Ovsyannikov stated today that in the first quarter of 2008, the bank plans to launch a few new products in the sphere of micro-crediting.

There is an agreement with EBRD as well on provision of additional funding for the development of mortgage services in Armenia.

According to Valeri Ovsyannikov, there are plans on using the opportunities of the European network of subsidiary banks of VTB for the realization of export-import funding programs.

In particular, in the nearest future a credit line for ACP Company will start functioning - pre-export funding at the sum of $15mln, using the opportunities of “VTB Bank” in Paris.

According to Ovsyannikov, today the credit portfolio of “VTB Bank (Armenia)” makes about $110mln, the assets make about $190mln.