Yerevan /Mediamax/. International Finance Corporation (IFC, WB Group) will render assistance to “Ardshininvestbank” for improving the bank’s risk management practices.

Mediamax was informed in IFC press service that the corresponding agreement was signed in Yerevan today.

The agreement is part of IFC’s broader regional crisis-response initiative focused on strengthening the banking sector to make it more sustainable.

According to IFC, with the help of consultations, in light of the recent financial crisis, IFC is helping the bank enhance its capacity to deal with nonperforming loans, mitigate risks, and strengthen its lending to local entrepreneurs and small and medium enterprises to stimulate economic development and job creation.

According to Thomas Lubeck, IFC Regional Head of the Caucasus, “This should create additional opportunities for economic growth in the country”.

Karen Balasanyan, Deputy Chairman of “Ardshininvestbank” Management Board stressed that “We value very much the cooperation with IFC and are confident that our clients will notice the impact of advisory services rendered by IFC experts in the near future.”