CREDIT LINES TO ARMECONOMBANK TO BE INCREASED

Panorama.am
14:37 29/03/06

Armeconombank has carried on negotiations with the representatives of
foreign banks present in Armenia concerning the increase of the volume
of trade financing. In particular, the credit lines to Armeconombank
will be opened on the one hand and increased on the other hand.

Talking about the work of the International Banking Conference in
Yerevan Ashot Osipyan, president of Armeconombank, mentioned that
new instruments of trade financing and the advantages of their use
have been introduced to Armenia in the course of the 2 days of the
conference. The foreign participants suggested that such conferences
should be held annually. As the banker thinks banking conferences can
promote development of export in Armenia and increase of its volume.

Ashot Osipyan also informed that according to the results of the
conference two foreign banks and two native companies (importer
and exporter) will be awarded prizes – statuettes of God of Trade
Hermes. To note, the initiators of the three-day international banking
conference was the European Bank of Reconstruction and Development,
Armeconombank and the EU.