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- Operations
- Inecobank - PSF Line of Credit
Inecobank - PSF Line of Credit
Armenia
| Borrower | INECOBANK |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Financial |
| Approved | 18.06.2008 |
| Signed | 05.11.2008 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| OPEC Fund Contribution (US$m) | 3.00 |
The purpose of the line of credit to Inecobank is to assist the organization in the development of its term lending program to SMEs. Financing for small businesses is in relatively scarce supply in Armenia, and the credit line will enable the bank to meet its clients’ longer-term financing needs. Inecobank is seeking to expand, offer new products and make a larger contribution to the economic development of Armenia.