Yerevan /Mediamax/. The OPEC Fund for International Development (OFID) provided “Ardshininvestbank” with a loan at the volume of $10mln and with the repayment term of 7 years for small and medium enterprise funding.

As Mediamax was informed in the press service of “Ardshininvestbank”, the official signing ceremony of the agreement took place at OFID’s headquarter in Vienna. The agreement was signed by Mr. Suleiman Jasir Al-Herbish, the Director-General of The OPEC Fund for International Development and Mr. Nerses Karamanukyan, the Chairman of the Management Board of “Ardshininvestbank”.

 “This is a long-term line of credit which will create opportunities for contributing to the development of local SMEs and will support them in overcoming the impact of tough economic situation”, Nerses Karamanukyan stated.

OFID Director-General in his turn expressed confidence that this loan line will help “Ardshininvestbank” expand the range of services, provided to SME.