Yerevan /Mediamax/. “Inecobank” signed a loan agreement at the sum of $4mln with DWM Asset Management (DWM).

As Mediamax was told in the press service of the bank, new loan means will be used for on lending to micro entrepreneurs in Armenia.

DWM Asset Management is a member of the Developing World Markets Group and is dealing with investments in the sphere of microfinance of developing countries.

“Inecobank is proud to obtain a new partner during those hard times for international financial markets, who expressed its willingness to support microfinance development in Armenia”, press service of the bank noted.

The funds will be used to provide micro loans with the following terms: maximum loan amount shall not exceed 10 000 USD, maximum tenor shall be 24 months. To apply for a loan within the framework of this project, entrepreneurs should have businesses including production, trade or service provision.