Converse Bank receives second tranche of EBRD loan for SMEs

12:23 • 07.11.14
Economy

In 2015, Converse Bank will further expand its micro, small and medium enterprise (MSME) financing program.

The bank has received the second tranche in the amount of USD 2.5 million out the USD 5 million equivalent synthetic loan attracted from the European Bank for Reconstruction and Development (EBRD). The EBRD’s financing enables Converse Bank to offer advantageous lending terms in national currency for SMEs.

“We highly emphasize the continuous cooperation with the European Bank for Reconstruction and Development and generally value the trust of our international partners toward Converse Bank. The synthetic loan received from the EBRD will enable the Bank to provide long-term financing to micro, small and medium-sized businesses on beneficial terms. And, as far as the loans are on-lent in Armenian drams, our customers will be protected against the exchange rate risks,” Converse Bank CEO Tigran Davtyan said.

SME financing has been continuously the focus of Converse Bank. The Bank constantly develops and expands services offered to corporate customers. Today, Converse Bank offers high quality financial services to SMEs, including various credit facilities and trade finance, as well as preferential rates for loyal customers.

The cooperation between Converse Bank and EBRD has proved very productive. Most recently, a credit limit of USD 4M has been established for Converse Bank under the EBRD’s Trade Facilitation Program.
 

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