INTERNATIONAL FINANCIAL CORPORATION TO PROVIDE CREDIT OF OVERALL 5 MILLION USD TO THE "ARDSHININVESTBANK"

ARMENPRESS
June 10, 2009

YEREVAN, JUNE 10, ARMENPRESS: The International Financial
Corporation (IFC) will provide overall 5 million USD of credit to the
"Ardshininvestbank" for financing of the foreign trade. The agreement
over it has today been signed in the chief office of Ardshininvestbank
between the deputy Chairman of the Council of the Bank Sergey Virabian
and Snezana Stoijkovic the IFC director for Central and Eastern Europe.

According to S. Virabian, with this the "Ardshininvestbank" is
involved in the global project of IFC trade financing program and
gets an opportunity to join to the net of international banks which
provide services in the sphere of foreign trade which contributes to
the development of state’s foreign trade.

Through providing of the mentioned services the bank will decrease
the trade risks of the Armenian businessmen functioning in the
international trade sphere. According to him, this agreement is
one of the achievements of the bank "a new opportunity in the heavy
conditions of the crisis which will allow the bank clients to make
use of available, modern and flexible banking tools".

In her speech S. Stoijkovic stressed that this is not the only
support provided to the "Ardshininvestbank" as a long-term partner;
the cooperation will be continuative and in the nearest future other
financial tools will possibly be provided. She expressed confidence
that this will be a great support to the Armenian businessmen
in the conditions of the crisis and will have an active role
in financing of the activity of Armenian exporting and importing
companies. S. Stoijkivic reminded that the IFC is a member of World
Bank Group and a shareholder of "Ardshininvestbank".

Head of the Armenian Central Bank Vache Gabrielian in his turn stressed
the importance of enhancement of cooperation with the international
financial organizations noting that as a result of involvement of new
means from abroad the business conditions in Armenia will improve. He
said this cooperation will promote the further development of the
"Ardshininvestbank".