ENP Newswire
June 12, 2009 Friday

Signing a new credit line agreement: Ardshininvestbank joint IFC
global trade financing program

Today the signing agreement referring IFC’s credit line provision to
Ardshininvestbank shaped to financing foreign trade took place in
Yerevan, at the head office of Ardshininvestbank.

Sergey Virabyan – the Deputy Chairman of Ardshininvestbank, and
Snezhana Stoilkovich – IFC Regional Director for Central and Eastern
Europe, signed the agreement.

Thus, Ardshininvestbank is included in the Global Trade Financing
Program (GTFP) and joint the international network of banks rendering
standard financial services at the sphere of foreign trade, which
promote the development of the foreign trade. The total amount of the
credit line is USD 5 million.

The IFC credit line gives an opportunity to Ardshininvestbank to
extend the range of such banking services in the foreign trade sphere,
as letter of credit, guarantees, bill of exchange, bank accepts,
thereby to diminish the trade risks of Armenian businessmen acting in
the sphere of the international trade.

As the Deputy Chairman of Ardshininvestbank said: ‘Ardshininvestbank
continues deepening the cooperation with International Financial
Corporation. In this regard, we rate the credit line provided in the
framework of IFC global trade financing program (GTFP) as an immediate
successful cooperation certification, due to which Ardshininvestbank
will get an opportunity to enlarge its commercial activities, as well
as have a proactive participation in the financing sphere of Armenian
exporting and importing companies’ activities’.

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