Yerevan, January 18 /Mediamax/. “ARARATBANK” and the European Bank for Reconstruction and Development (EBRD) signed two agreements in Yerevan today.

Mediamax reports that, in accordance with the first agreement, the European Bank will allocate to “ARARATBANK” a loan at the sum of $5mln for financing of small and medium business. The second agreement provides for providing “ARARATBANK” $1mln, aiming at implementing technologies of international trade financing in the bank.

The Executive Director of the bank Ashot Osipian noted that the program on financing of small and medium enterprise of “ARARATBANK” will be realized jointly with the German BFC consulting company, adding that he considers important the increase of qualification of the employees of the bank.

The EBRD representative in Armenia Michael Weinstein expressed hope for the further deepening of cooperation of the European Bank with “ARARATBANK”.