SMEs in Armenia to be granted loans

The Eurasian Bank for Development and Ameriabank CJSC concluded today a five-year loan agreement on funding small- and medium-sized enterprises (SME) in Armenia.

The document was signed by and between EBD managing vice director Marat Jaukenov and Ameriabank's General Director Artak Hanesyan.

The funding is provided in the frameworks of the European Development Bank's SME assistance program aimed at creating and promoting the sustainable development of SMEs in Armenia and increasing their competitiveness on domestic and foreign markets.

The parties signing the agreement stressed its strategic importance in ensuring Armenia's economic stability.

SMEs produce 40% of Armenia's gross domestic product.