Yerevan /Mediamax/. European Bank for Reconstruction and Development (EBRD) provided “Armeconombank” with additional $2mln within the framework of the “Co-financing” program.

As Mediamax was informed in the Bank’s press service, thus the total volume of the program will be increased up to $7mln.

“Armeconombank” continues medium and long term funding of projects in the sphere of trade and production within the framework of the agreement, signed with EBRD in 2005. According to the terms of the “Co-financing” program, financial means, making from $400 thousand to $1.2mln, are issued for the term of 5 years and the annual interest rates start at 12%.

 “Armeconombank” registered increase in a number of indices in the III quarter, 2009. In particular, the bank assets grew by 15.5%, the credit investments – for 3.3bln AMD, individuals’ deposit – by 9.2%.

The net profit of the bank made about 300mln AMD following the results of the III quarter.