Yerevan /Mediamax/. European Bank for Reconstruction and Development (EBRD) will provide “Converse Bank” $10mln## for small and medium enterprise crediting.

Mediamax reports that the loan agreement was signed in Yerevan today by the General Director of “Converse Bank” Ararat Ghukasyan and EBRD representative in Armenia Michael Weinstein.

“The target segment for crediting will be small and medium enterprises of Armenia, involved in various spheres, at that their geographic location will not be taken into account”, Ararat Ghukasyan stated.

Michael Weinstein described the loan program with “Converse Bank” as “another manifestation of confidence of international financial establishments towards the banking system of Armenia”.

Chairman of the Central Bank (CB) of Armenia Artur Javadyan, who was present at the signing process, noted that EBRD actively works in Armenia and realizes over 20 various programs.

“To realize the given loan program, EBRD chose “Converse Bank”, which possesses highly professional management and a modern system of risks management”, Artur Javadyan stated.