Arminfo
2007-02-16 10:51:00
ARMECONOMBANK SIGNS NEW CREDIT CONTRACT WITH IFC
A few days ago Armeconombank signed a $2mln credit contract with IFC,
says the chairman of the bank’s board David Sukiassyan.
$1mln will be spent on SME support, $1mln on mortgage crediting
development. The credit for SMEs has been given for 5 years, for
mortgage crediting for 8 years. Presently, the bank credits at 14% a
year but by the end of this year it may reduce the interest by 2%. Now
the bank’s is carrying out a special action: the clients who have been
holding Armeconom cards for 2 and more years will enjoy 3% reduction
in the interest.
To note, Armeconom actively cooperates with international financial
institutions. 25% of its shares belong to EBRD. The bank cooperates
with EBRD, IFC, Commerzbank, GAF. Due to its successful mortgage
credit standardization project, the bank has been involved in the KfW
mortgage crediting development program. This year the bank is
3planning to redouble the volume of mortgage credits to $12mln.