HERE AND BEYOND
Proparco, the French development finance institution, in partnership with Ameriabank, presents its first financing project in Armenia
Media Room

Proparco (Investment and Promotion Company for Economic Cooperation) and Ameriabank signed a USD 15 million credit facility agreement, it being the first investment of Proparco in Armenia and the second one in South Caucasus. The CFA signatories are Mr. Jerome Bertrand-Hardy, Deputy Chief Investment Officer at Proparco and Mr. Artak Hanesyan, Chairman of Management Board-General Director at Ameriabank. The signing ceremony was attended by Ambassador Extraordinary and Plenipotentiary of France in Armenia Mr. Henri Renaud.

Agribusiness plays a key role in the development of Armenia’s economy. This new financing project implemented by Proparco and Ameriabank will open new long-term financing opportunities for small and medium businesses in food processing industry, boosting Armenia’s economy and adding new jobs.

Jerome Bertrand-Hardy said: “As a first operation in Armenia, Proparco is proud to support Ameria Bank, a leading financial institution with a dynamic growth strategy which supports investments in the agribusiness sector. This sector is indeed one of the main focuses of Proparco in the Caucasus region and in Armenia in particular. Its market position, financial strength, competent management and privileged partnership with development finance institutions make it a partner of choice”.

“We welcome Proparco’s entry to Armenia. We highly appreciate our partnership with Proparco, enabling us to diversify our loan portfolio and increase SME lending. This credit facility will allow us to keep financing SMEs, particularly those with their focus on Agribusiness/Food processing, considering them as the main drivers of our national economy. Under this credit facility SMEs will be able to obtain long-term financing to expand their businesses, strengthen their competitiveness” - commented Artak Hanesyan, Ameriabank General Director.


About Proparco

PROPARCO is a Development Finance Institution jointly held by Agence Française de Développement (AFD) and public and private shareholders from the North and South. Its mission is to catalyze private investment in emerging and developing countries with the aim of supporting growth, sustainable development and the achievement of the Millennium Development Goals (MDGs). PROPARCO finances investments that are economically viable, socially equitable, environmentally sustainable and financially profitable. PROPARCO is one of the main bilateral development finance institutions in the world. It invests on four continents encompassing the major emerging countries and the poorest countries, particularly in Africa, and has a high level of requirements in terms of social and environmental responsibility.
For further information, visit: www.proparco.fr


About Ameriabank

Ameriabank is a dynamically developing bank and one of the most stable and largest financial institutions in Armenia. As the first Investment bank in Armenia, Ameriabank has been providing a large package of innovative investment services since 2007. Now Ameriabank, as a universal bank, offers a wide range of comprehensive banking services to its both corporate and retail clientele.
For further information, visit: www2.ameriabank.am
 

Updated 18.04.2013, 15:00
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