In late Sept 2008 Armeconombank will learn when it will receive the
second syndicated loan

2008-08-15 21:41:00

ArmInfo. In late Sept 2008 Armeconombank will learn when it will
receive the second syndicated loan, the vice chairman of the Board of
Armeconombank Hayk Lazarian has told ArmInfo.

Earlier the chairman of the Board of the bank David Sukiassyan said
that the size of the loan would range within $15mln-20mln.

To remind, in Dec 2007 Armeconombank signed an agreement with EBRD for
receiving a syndicated loan worth $15mln. The loan was provided by EBRD
and six big banks: Raiffeisen Zentralbank Osterreich AG and Bank
Austria Creditanstalt AG (Austria), State Bank of India, Land Bank of
Taiwan and FBN bank Limited (UK). EBRD lent $5mln for 36 months, the
other banks – $10mln ($5mln for 18 months, $5mln for 12 months – in
both cases the period of repayment can be prolonged). The money is to
be spent on support of small and medium-sized business.