OREANDA-NEWS. August 14, 2012. Inecobank Signed a Loan Agreement of 8 million USD with European Bank for Reconstruction and Development, reported the press-centre of Inecobank. 

As a continuation of its long-term cooperation with European Bank for Reconstruction and Development (EBRD) Inecobank recently signed a new loan agreement attracting 8 million USD funds which will be directed to financing of micro, small and medium enterprises.

It is noteworthy that the new loan is in local currency which will give Inecobank an opportunity to provide loans in AMD without assuming any possible currency risks. This loan agreement is 8th with EBRD and serves a proof of lasting cooperation and further effective collaboration.

"The new loan will allow the Bank to increase the amount of AMD loans to SMEs and micro enterprises and at the same time to contribute to sustainable development of the private sector of the country's economy", says Avetis Baloyan, Chief Executive Director of Inecobank.