The Netherlands Development Finance Company (FMO) and ACBA-CREDIT AGRICOLE BANK signed a loan agreement for the amount of USD 15 mln in the Noordwijk, Netherlands, during the Conference of “Future of Finance”, organized by FMO. The financing will be directed to the development of micro, small and medium sized enterprises in Armenia, particularly in the agricultural sector.
The loan is a multi-currency facility, which assumes that the Bank can choose to drawdown in either US dollar or Armenian Dram. This is the first direct bilateral cooperation between the Bank and FMO. The first cooperation between the parties started in 2012, in the framework of a syndicated loan in local currency between the Bank and EBRD, where FMO acted as the B lender.
FMO is the Dutch development bank. FMO has invested in the private sector in developing countries and emerging markets for more than 46 years. FMO invests in sectors where their contribution can have the highest long-term impact: financial institutions, energy and agribusiness. Alongside partners, we invest in the infrastructure, manufacturing and services sectors.
With an investment portfolio of €8.9 billion spanning over 85 countries, FMO (www.fmo.nl) is one of the largest bilateral private sector development banks globally.