IN THE FIRST HALF YEAR OF 2007 ACBA-CREDIT AGRICOLE BANK BECOMES THE LEADER IN GRANTING CREDIT GUARANTEE FACILITIES UNDER SMEDNC PROGRAM

arminfo
2007-08-23 08:53:00

Within the framework of the credit guarantee facility (CGF) program
of the Fund ‘Small and Medium Entrepreneurship Development National
Center of Armenia’, the ACBA-Credit Agricole Bank became the leader
in the first half year of 2007, having granted CGFs to 23 entities.

SMEDNC told ArmInfo correspondent that in the first half year
of 2007 the Fund granted a total of 54 CGFs worth 218.9 mln
AMD. The participants of the CGF program are commercial banks
of Armenia. Particularly, within the period under review, 15
entities obtained CGFs through Anelik Bank, 7 entities – through
Ardshininvestbank, 5 entities – through Unibank, 4 entities –
through Inecobank.

The source reports that in Jan-June 2007, the most active region
of Armenia to obtain CGFs under the this program was Lori – 54.346
mln AMD. Gegharkunik region ranks next – 36.713 mln AMD, the third
place is held by Armavir region – 25.988 mln AMD, the fourth one –
by Vayots Dzor region – 25.284 mln AMD. The top five is closed by
Shirak region – 23.4 mln AMD. The lion’s share of granted CGFs was
in the production sector – 129.047 mln AMD, sphere of services –
51.073 mln AMD, and trade – 38.850 mln AMD.

According to the source, since 2004 till 2007, under the SMEDNC
program a total of 204 entities obtained CGFs worth 784.2 mln AMD,
with 1445.4 mln AMD credit portfolio being secured.

To note, the Fund SMEDNC was established in 2002. It is the first
national structure which is empowered to contribute to development
of small and medium entrepreneurship of Armenia at a state level.