European Bank for Reconstruction and Development (EBRD) granted a USD12mln loan to Ameriabank. USD9mln will be meant for funding SME and USD3mln - renewable energy resources and energy saving.

As Ameriabank CEO Artak Hanesyan said today during signing of the relevant loan agreement in Yerevan today, the funding will help the bank to increase the SME lending volumes, Armenia's energy production and energy saving. The loans will be issued in USD and AMD.

"The SME share makes 16% or about USD100mln of our credit portfolio. This year, we are going to grow the SME lending volumes by 70% reaching their share in the credit portfolio up to 19%", said Artak Hanesyan.

Director of EBRD Yerevan Office Valeriu Razlog said that owing to the loan, the domestic enterprises will able to use long-term funding in the national currency avoiding currency risks.

"The funding will also boost investments to Armenia's renewable energy resources and energy saving spheres. By the way, individuals may also be issued loans to energy saving ends (energy saving furnaces, installment of doors and windows etc) which is very important", said Valeriu Razlog. --0--