Yerevan, December 26 /Mediamax/. International Finance Corporation (IFC) purchased 10% shares of “Ardshininvestbank” CJSC, Chairman of the Board of the bank Aram Andreasian stated at a news conference in Yerevan today.

Mediamax reports that the volume of share investments of IFC made $10mln. Besides, IFC allocated a long-term credit at the sum of $15mln for “Ardshininvestbank”.

Head of the Yerevan Office of IFC Nerses Karamanukian stated that the cooperation between IFC and “Ardshininvestbank” aims at increasing the access to housing finance and lending to small and medium enterprises in the country.

“This investment corresponds to IFC strategy in Armenia on increasing the quality of life for people with low income and availability of financial resource for purchasing dwellings”, Nerses Karamanukian stated.

Deputy Chairman of the Armenian CB Artur Javadian noted that the given deal is the largest one in the banking sector of Armenia in the course of 2007.

The capital of “Ardshininvestbank” in the course of the recent year increased by 67,2% and will make 19bln drams by the end of 2007.

The International Finance Corporation (IFC) is a member of the World Bank Group.

Mediamax recalls that in June 2006, the IFC purchased 10% shares of Armenian “Inecobank”.