"CONVERSE BANK" AND EBRD SIGN CREDIT PROGRAM COSTING 10 MILLION USD
ARMENPRESS
Nov 25, 2008
YEREVAN, NOVEMBER 25, ARMENPRESS: The executive director of "Converse
Bank" Ararat Ghukasian and representative of the European Bank for
Reconstruction and Development (EBRD) Michael Weinstein signed today
a credit program costing 10 million USD. The funds provided by EBRD
will be directed towards crediting small and medium-sized business.
A. Ghukasian told the reporters that the credits will be provided
without geographic limitations to those dealing with trade, services,
industry, agriculture. The credits will be provided with 4-year
term and with market interest. The executive director of "Converse
Bank" expressed hope that the first provisions will be received in
January. Before that, credit specialists of the bank will have special
training classes.
Chairman of the Armenian Central Bank Arthur Javadian underscored
such like cooperation, at the same time saying that the realization
normals of Armenian banks are quite high today.
Such credits, according to A. Javadian, simply support in confronting
the further impact of global financial crisis. He said that the
recently spread information as if Armenian banks do not provide
credits today do not correspond to reality.