IFC: Subordinated Loan to Ameriabank to Help Cash-strapped Businesses in Armenia

Jan 2016
Armenia, January, 21 2016 - Subordinated loan to Ameriabank will increase access to finance for Armenian businesses facing recent tightening of the emerging markets and the economy of the immediate region, Mr Tomasz Telma, IFC Director for Europe and Central Asia, said Thursday in Yerevan at the ceremony of signing two financial agreements by Ameriabank CJSC (one with the EBRD, and the other with the IFC).

The IFC plans to increase its engagement in Armenia to a landmark of $100 mln in 2016 fiscal year, including the loan to Ameriabank, but also upcoming commitments in the real sector and advisory services to the government.

Since 1995, IFC’s total investment commitments have totaled $340 mln into 47 projects. IFC has also supported trade deals worth more than $122 mln, and has had a sizeable component of advisory projects to improve business climate.

Ameriabank is the largest bank in Armenia by assets, loan and deposit portfolio, and liabilities. Bank’s total capital is close to $200 mln, its total assets reaching $1 bln.

Source : NEWS.am

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