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$5 MILLION LOAN FROM EBRD
[03:06 pm] 01 December, 2006

Micro and small enterprises in Armenia will benefit
from a $5 million loan the EBRD is providing to CJSC
Inecobank, a growing local bank with a strong business
focus.

In addition, the EBRD will also increase Inecobank’s
limit under the Trade Finance Programme to $1 million.

The EBRD loan will be used for on-lending to local
micro and small enterprises thus addressing a major
constraint for the growth of this segment of the
economy.

Inecobank and the EBRD have been partners since 2005
when the Armenian bank received a first $1 million
loan to expand its capacity to serve micro and small
enterprises. In the same year Inecobank also joined
the EBRD’s Trade Finance Programme which supports
trade to, from and within the Bank’s countries of
operations.