Yerevan/Mediamax/. European Bank for Reconstruction and Development (EBRD) allocated USD 5mln for “VTB Bank (Armenia)” for crediting micro and small entrepreneurship (MSE).

Mediamax reports that the mentioned sum is the third and the last tranche of the loan at the sum of USD 10mln, provided to the Armenian bank in January, 2009.

“This program provides solvent borrowers in the sphere of MSE in Armenia the chance to use reliable sources of funding for up to 5 years with the annual interest rate starting from 12%”, Director of Retail Business Development Department of “VTB Bank (Armenia)” Artak Khachatryan stated concerning that.