Inecobank CJSC and BlueOrchard Finance S.A. signed a $5mln loan agreement for micro and small business financing.
According to the bank press service, the loan is provided in AMD, what will allow allocating loans in the local currency, avoiding currency risks.
“As part of the program on cooperation, BlueOrchard Finance S.A. issued a $7.5mln loan to Inecobank in 2010. Signing of another agreement aimed at the development of micro-financing is a result of effective and goal-oriented actions of the bank. It will reinforce our cooperation with the reliable partner,” Inecobank Executive Director Avetis Baloyan stated.
This year, Inecobank plans to expand the framework of international cooperation and realize new programs aimed at the financing of micro and small enterprises and the sphere of renewable energy saving.
