2024-06-09 18:55:39
Because of the cooperation of Akba Financial institution and the European Financial institution for Reconstruction and Improvement (EBRD), 25 million USD might be directed to the event of Armenia’s economic system by financing micro, small and medium enterprises, in addition to women-led corporations. Funding might be supplied in each AMD and US {dollars}.
About 7 million US {dollars} of those funds have been attracted by Akba Financial institution throughout the framework of the EU4Business-EBRD credit score line program, because of which the financial institution will assist native corporations to change into extra aggressive by rising the standard of their services and products, in addition to by investing in “inexperienced” applied sciences. As a part of the EU4Business initiative, the European Union may even present incentive grants, cashbacks and free technical help. As a part of the USD 25 million monetary bundle, one other USD 4 million might be allotted to the Ladies in Enterprise (WiB) program, which promotes girls’s participation in enterprise and is supported by the EU. Frank Hess, head of the cooperation division of the European Union delegation, additionally participated within the signing ceremony.
“Akba Financial institution and the European Financial institution for Reconstruction and Improvement have a wealthy historical past of cooperation. We began our sturdy cooperation with EBRD since 2003. Now we’re signing new financing agreements of USD 25 million, a part of which is once more in native foreign money. With these funds, Akba Financial institution will finance Armenian SMEs, the enterprise could have the chance to draw the mandatory applied sciences and tools in accordance with EU requirements. An necessary part of this system is the promotion of ladies’s entrepreneurship,” mentioned Hakob Andreasyan, Chief Govt Officer of Akba Financial institution.
“Akba Financial institution is a key associate for us in Armenia. We’re happy with our practically twenty years of cooperation. We wish to create new alternatives for the event of SMEs in Armenia, it is usually necessary to help corporations managed by girls. We’ll proceed to help the personal sector of the economic system and contribute to the event of Armenia. We’re additionally grateful to the European Union for its cooperation, which supported this funding. Other than all this, I’d additionally wish to congratulate Akba Financial institution for conducting an preliminary public providing of its shares within the native market. This was essential each for the financial institution’s growth and the nation’s economic system,” mentioned EBRD President Odile Renault-Basso.
Akba Financial institution is without doubt one of the leaders of the Armenian banking system, absolutely the chief in financing the nation’s rural sector. After the preliminary public providing (IPO) in 2021, Akba Financial institution has greater than 5,200 shareholders. Because of the implementation of the most recent digital options, in addition to using new applied sciences, the financial institution repeatedly develops the amount and high quality of the supplied monetary companies. Akba is represented in all areas of Armenia, has 63 branches, and is taken into account one of many largest employers within the nation and within the monetary system.
Since 1992, the EBRD has invested round 2 billion euros in 201 initiatives in Armenia.