Armeconombank has signed a loan agreement with Asian Development Bank (ADB) in the amount of USD 15 million.

According to Armeconombank, as per this agreement the bank will on-lend the raised amount to Micro, Small and Medium Enterprises, which will “contribute to the development of Armenia’s economy”.

The cooperation between Armeconombank and ADB was launched in 2011 in the framework of ADB Trade Facilitation Programs which continues its successful path up to now leaving behind three TFP Awards of the Leading Partner Bank in Armenia.

“Signing this first Senior Loan Agreement will be the beginning of a new cooperation level and hopefully will lead to more enhanced scopes of partnership in future,” said Mr. Aram Khachatryan, the CEO of Armeconombank.

“Throughout three decades the bank has emphasized the importance of cooperation with international organizations, the evidence of which is the comprehensive partnership record with first class IFIs reflecting successful projects and the level of trust towards the bank,” Armeconombank said in a statement.