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New financial flaws to the Armenian agriculture
2016-12-15


EFSE and ACBA-CREDIT AGRICOLE bank have signed a loan agreement in local currency in the amount corresponding to 10 MM US dollars. The agreement will be aimed at financing agriculture, as well as small and medium enterprises.

The cooperation of ACBA-CREDIT AGRICOLE bank and EFSE began in 2013, after the foundation provided 2 loans to the Bank to support the financing of micro and small business enterprises in Armenia. The Chief executive officer of the Bank mentioned in his speech that the involved funds will allow to further strengthen the position of the Bank in the financial and banking system of Armenia: “We are happy to deepen our cooperation with EFSE and receive a new loan in our local currency. This deal will give ACBA-CREDIT AGRICOLE bank an opportunity to implement a wide range of activities in order to finance the core sectors - SME and agro, which have a vital role in the development of Armenian economy”.

EFSE Chairperson Christoph Tiskens mentioned in his speech that the effective cooperation that began between the sides from 2013 is once again proved by already the second signed agreement.

In case of any inconsistencies between the published Armenian and English information, the Armenian version prevails.
Updated: 25.01.2017 13:35
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