Acba bank is the first in Armenia to partner with the U.S. International Development Finance Corporation (DFC). As a result of this partnership, 50 million USD will be allocated to support micro, small, and medium-sized enterprises (MSMEs) in Armenia and stimulate economic growth.

At least 50% of the funds will be allocated to businesses owned by women, creating special opportunities for their development.

“This is the first time that DFC has signed an agreement with an Armenian organization, specifically Acba bank. We will direct the received resources towards the development of micro, small, and medium-sized enterprises in our country. Special emphasis will be placed on the role of women in these businesses, and a significant amount of the funds will be allocated to the development of businesses led by women. With this cooperation, we will contribute to the continuous development of businesses throughout Armenia," noted Hakob Andreasyan, CEO at Acba bank.

“Today, we celebrate the important partnership between Armenia and the United States. Our collaboration with Acba bank is about our shared values and fostering economic growth in Armenia. Small businesses are the engine of a free market, creating jobs and opportunities for communities. The U.S. International Development Finance Corporation uses its tools and authorities to provide access to finance that will help grow Armenian businesses and propel Armenia’s economy forward," said Nisha Biswal, Deputy CEO of the U.S. International Development Finance Corporation

"This is the largest ever investment in Armenia by the U.S. International Development Finance Corporation, which is being received by Acba bank. I believe this is an important step in expanding access to financing for small and medium-sized enterprises. This will allow local businesses to grow, innovate, and create new jobs," said U.S. Ambassador to Armenia Christina Quinn.

"This cooperation not only supports small and medium-sized enterprises in Armenia but also marks another significant step towards further deepening economic relations between the United States and Armenia. This lending program will help Armenian businesses expand, develop, and become more competitive in both local and international markets," said Deputy Minister of Economy of Armenia, Arman Khojoyan.

"Acba bank is one of the leaders of our banking system and has demonstrated stable financial indicators for many years. The Bank has introduced the best standards, especially in the field of corporate governance, and has been alongside Armenian businesses, the agricultural sector, and SMEs for many years. Acba bank's experienced specialists have become partners and advisors to this business community, standing by our businesses from the beginning of their initiatives to their successful completion," said Davit Nahapetyan, a Board member of the Central Bank of Armenia.

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