EBRD TO PROVIDE MILLION TO AMERIABANK

Noyan Tapan
March 4, 2010

YEREVAN, MARCH 4, NOYAN TAPAN. Under the agreement signed between the
representatives of European Bank for Reconstruction and Development
(EBRD) and Ameriabank on March 4, EBRD will provide million to
Ameriabank. Chairman of Ameriabank Artak Hanesian said at a press
conference held after the signing ceremony that this money will be
allocated for crediting small and medium business. In his words,
the bank values highly cooperation with EBRD and intends to sign new
agreements in the near future, including an agreement on financing
small and medium enterprises. Ameriabank’s representative Levon
Arevshatian explained that the bank will add its own money to the
indicated 10 million dollars and lend this sum, which means that the
two banks will co-finance the program.

EBRD Director for Central Asia, the Caucasus and Mongolia Mike
Taylor stated that by launching a joint program with Ameriabank, EBRD
once again demonstrated its willingness to assist the development of
Armenia’s private sector. "We are glad that Ameriabank is participating
in our co-financing program, which will allow it to increase its
credit portfolio," he said. Noting that 2009 was a difficult year for
Armenia, M. Taylor expressed a hope that 2010 will be more successful
from the economic point of view.