Acba bank and the Japan International Cooperation Agency (JICA) are launching a partnership under which Acba bank will allocate 50 million USD for the development of micro, small, and medium-sized enterprises (MSMEs) in Armenia. This collaboration marks JICA's first partnership with a commercial bank in Armenia.

The cooperation agreement between Acba bank and JICA was signed at the National Gallery of Armenia, symbolizing creativity and development. The event was also attended by the Ambassador of Japan to Armenia, Mr. Aoki Yutaka.

JICA is signing a commercial agreement in Armenia for the first time, and the partnership begins with Acba Bank. We continue to expand our list of international partners, making our collaboration more global by including Japan, one of the world's developed countries. I must say, this is an opportunity for the development of our country's economy, financial system, and small and medium-sized businesses,” stated Hakob Andreasyan, CEO of Acba bank.

We know that Acba bank is committed to the development of agriculture, the promotion of micro, small, and medium-sized enterprises, and the advancement of rural communities. These are essential factors for the further development of Armenia's economy, where agriculture holds exceptional significance," noted Takehiro Yasun, Director General of JICA’s Private Sector Partnership and Finance Department.

“Agriculture and small and medium-sized businesses are sectors where we have significant potential. However, at the same time, these areas face numerous limitations in terms of financing and risk distribution. Initiatives like this are extremely important for these sectors. The Central Bank welcomes this cooperation, and we hope that this partnership will evolve to include more projects. This is a strategic direction for us," stated Armen Nurbekyan, Deputy Governor of the Central Bank.

"The signing of the partnership agreement between Acba Bank and JICA is important and significant in terms of ensuring access to financial resources. Within the scope of this cooperation, the mobilization of financial resources will enable SMEs to expand their operations and explore new opportunities, making them competitive in both local and international markets," stated Lilya Sirakanyan, Deputy Minister of Economy of Armenia.

Acba Bank and JICA are already discussing new programs and joint projects for the future that will contribute to economic growth in Armenia.

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