Yerevan /Mediamax/.Within the framework of joint agreement with DEG (Deutsche Investitions und Entwicklungesellschaft MBH) and OeEB (Oesterreichische Entwicklungsbank AG) Inecobank will receive 10 million USD financing to promote development of SME sector in Armenia.  

\"Small and medium sized enterprises are the key and dynamic players of the private sector and this joint loan will be used for financing the SME businesses and helping them to expand their business. This sector is a strategic direction for Inecobank and we highly value the contribution of OeEB and DEG towards the fulfillment of our mission. Inecobank has long history of efficient cooperation with DEG which is also the shareholder of the bank since 2008. With OeEB this is the first deal which we are sure will become the first step towards creating solid grounds for further long term and fruitful cooperation”  said Avetis Baloyan, the CEO of Inecobank.

“We are proud to support with Inecobank a partner distinguished by exceptional regional knowledge and a proven track record”, said Holger Rothenbusch, Head of DEG’s Asia / Europe Division.


In her turn, Andrea Hagmann, Member of the Executive Board of OeEB noted that they consider Inecobank to be outstanding partner to support the SME sector in Armenia.