HERE AND BEYOND
DEG provided Ameriabank with 20 million US dollars for SME lending
Media Room
Ameriabank CJSC and DEG -Deutsche Investitions-und Entwicklungsgesellschaft mbH have concluded a USD 20 mln loan agreement. The eight year loan facility will be dedicated to financing SME projects of Ameriabank’s Corporate and SME clientele.

“This is another remarkable achievement which we celebrate with our long-standing partner DEG and we are pleased to see this partnership evolving into a strategic one. The loan agreement will allow us to continue financing the SME sector, one of the main drivers of the Armenian economy. Under this loan facility small and medium enterprises will be able to obtain long-term financing to expand their businesses, strengthen their competitiveness and create new jobs”, - commented Artak Hanesyan, General Director of Ameriabank CJSC.


“SMEs are a major engine behind economic growth. This is why the promotion of these enterprises is a matter of particular concern to DEG. With our commitment, we enable our experienced and reliable partner Ameriabank to further expand its financial offer. At the same time, we are fostering the Armenian financial sector, facilitating the access to long-term investment capital especially for small and medium-sized enterprises,” said Dr. Andreas Zeisler, Director Financial Institutions.


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About DEG
DEG, a subsidiary of KfW, finances investments of private companies in developing and transition countries. As one of Europe's largest development finance institutions, it promotes private business structures to contribute to sustainable economic growth and improved living conditions. For more information, please visit: www.deginvest.de
 
Updated 15.11.2012, 14:58
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