International Financial Corporation (IFC) will help ACBA-Credit Agricole Bank to develop financial products and services tailored to the needs of small and medium enterprises.

IFC will also support the bank in developing risk assessment tools necessary to grow the lender’s SME banking business, corporation’s Yerevan office informs.

«Through this new cooperation with IFC, our long-term partner, we hope to achieve significant progress in introducing viable financial services to better serve the financing needs of small and medium enterprises, by building more sustainable platforms to serve small businesses, we hope to contribute to the growth of the private sector in Armenia” Stepan Gishyan bank's CEO said.

“Lack of access to finance is a key constraint to job creation globally, particularly for micro, small, and medium enterprises. IFC is a knowledge leader in SME banking and our partnership will further strengthen the bank’s ability to serve small enterprises in Armenia, helping them grow into larger firms and create more jobs”, Thomas Lubeck, IFC Regional Manager for the South Caucasus, commented.