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- Ararat Bank (AB)
Ararat Bank (AB)
Armenia
| Borrower | Ararat Bank (AB) |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Financial |
| Approved | 18.03.2014 |
| Signed | 01.07.2014 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Co-financiers | NA |
| OPEC Fund Contribution (US$m) | 10.00 |
This US$10m transaction will support small- and medium-sized enterprises (SMEs) in Armenia, particularly those outside the capital Yerevan, where access to such funds is limited. This in turn will help create employment opportunities and increase access to foreign currency financing, as well as extending tenors of credit facilities to a number of key economic sectors within SMEs in Armenia, such as agriculture, services and manufacturing.