Armeconombank and the International Business Relations Support Council (IBRS Council) have signed a Memorandum of Understanding, envisaging the pooling of resources to contribute to the improvement of Armenia’s business environment and to promote international business cooperation.

The memorandum was signed during a business reception held on January 12 by Vahe Ghazaryan, Deputy CEO for Operations at Armeconombank, and Mariam Manukyan, President of IBRS Council.

“Armeconombank has maintained long-standing cooperation with the International Business Relations Support Council. The signing of this Memorandum of Understanding confirms the deepening of our partnership. We are confident that this cooperation will open new development opportunities for our business clients, enabling them to expand and enter new markets,” said Vahe Ghazaryan, expressing his belief that joint initiatives will stimulate the sustainable growth of Armenia’s economy. 

“The signing of this memorandum demonstrates our intention to combine our resources for the sake of our shared goals. We aim to create a foundation through which Armeconombank’s beneficiaries will be able to take advantage of the IBRS Council’s support programs under preferential terms. At the same time, IBRS Council member entrepreneurs will have the opportunity to secure financing from Armeconombank on more favorable terms, which will serve as a catalyst for business development, scaling, or export promotion,” noted Mariam Manukyan, emphasizing the importance of cooperation with Armeconombank.   

“With a strong focus on the development of the SME sector, Armeconombank strives – through various programs, business tools, and partnerships – to enrich SMEs’ business knowledge, offer alternative investment instruments, and foster networking and business connections,” the news release reads.
 
Armeconombank is supervised by the Central Bank of Armenia.