WORLD BUSINESS INC PROVIDES $ 10 MLN LOAN TO ARDSHININVESTBANK
By Ara Martirosian

AZG DAILY
28-03-2009

Economy

A loan agreement of $10 mln was signed between Ardshininvestbank and
American World Business Inc on March 26 in Washington at the Armenian
Embassy in the United States, Ardshininvestbank informed.

The credit is guaranteed by the US Government’s OPIC agency. The
credit liquidation period is 10 years and it is given to implement
small and medium business financing joint program. Ardshininvestbank
will invest $ 2,5 mln.

The agreement was signed by the Deputy Chairman of the bank’s board
Sergey Virabian and Vice President of World Business Inc Robert Monyac.

According to the acting Chairman of the bank’s board Gurgen
Haroutiunian, the new loan program will contribute to the development
of small and medium enterprises in Armenia and will help to overcome
the difficulties because of the world economic crisis. He also assured
that Ardshininvestbank would expand its international relations to
bring foreign financial resources to the Armenian market and contribute
to the development of the economy.