HERE AND BEYOND
IFC Helps Ameriabank Hedge Risks by Offering Innovative Risk Management Products
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IFC, a member of the World Bank Group, is helping Ameriabank to engage for the first time in international interest rate and currency swap transactions, which could strengthen the Armenian financial system by reducing currency risks.
 
IFC and Ameriabank today signed an International Swaps and Derivatives Association (ISDA) Master Agreement, the international legal documentation for the execution of risk-management transactions. IFC will provide Ameriabank with US dollar interest rate swaps and multiple currency swaps, enabling the bank to better manage its interest rate risks on borrowed funds as well as currency risks for its euro deposit base and provide a wider range of deposit products to customers.
 
“This transaction will help us enhance our risk management system. It is crucial in the aftermath of global financial crisis,” said Andrei Shinkevich, Investment Banking Director of Ameriabank.

“I am glad to announce IFC’s first swap agreement in Armenia,” said Thomas Lubeck, IFC Regional Head, Caucasus. “We are glad to introduce and maintain high financial technologies. They will provide Ameriabank, our reliable partner, with an innovative risk-management tool promoting prudent risk management.”
 
Since Ameriabank became IFC client in 2009 under the Global Trade Finance Program (GTFP), it has continuously expanded its cooperation. December last year IFC provided Ameriabank with a $15 million senior loan to help the bank finance small hydropower plants boosting renewable energy supply and helping lower greenhouse-gas emissions. IFC has supplemented the investment with advisory services to help the bank assess and review projects with a focus on environmental and financial aspects.
 
Since Armenia became a member of IFC in 1995, IFC has invested $87 million in 18 projects across a range of industries, including financial markets, general manufacturing, energy, mining, and chemicals. IFC Advisory Services provides advice through projects focusing on the financial sector, sustainable energy, and regulatory simplification.
 
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About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2009. For more information, visit www.ifc.org.

About Ameriabank
Ameriabank is one of the most dynamic banks in Armenia and ranks among the country’s most stable financial institutions. It is the first investment bank in Armenia, and since 2007 has been providing an extensive list of innovative banking products. It focuses mainly on corporate and investment banking. Ameriabank is owned by TDA Holdings Limited, an investment company affiliated with Troika Dialog, a leading Russian investment banking group. For more information, visit www2.ameriabank.am
Updated 18.10.2010, 14:38
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