OREANDA-NEWS. October 29, 2007. “Armeconombank” will receive from the European Bank for Reconstruction and Development (EBRD) a loan at the sum of $3mln for financing micro- and small business in Armenia, reported the press-centre of Armeconombank.

As Mediamax was told in the press service of “Armeconombank”, the corresponding loan agreement between “Armeconombank” and EBRD was signed.

The maximum volume of a credit, provided to micro-business, will make $10 thousand, with a repayment term of 2 years, and the maximum volume of credits to subjects of small business will make $100 thousand, with a repayment term of 3 years. The interest rate of the credits will make 22% per year.

Within the framework of the loan agreement, it is also planned to provide the subjects of micro-business, “Express” credits on the security of personal property.

Aiming at assisting the process of crediting, EBRD will provide “Armeconombank” consultation service, which will be directed to the increase of the qualification level of the credit specialists, as well as the realization of the very process of crediting.

As for today, $4mln from the financial means, received by “Armeconombank” from EBRD within the framework of loan agreements, have been directed to crediting of large companies.