2024-04-16 01:13:05
Akba Bank, in cooperation with the European Union and the European Bank for Reconstruction and Development and with the support of Sweden, has attracted financial resources of AMD equivalent to 10 million dollars.
Akba Bank will direct the funds raised to the financing of women entrepreneurs in Armenia. Akba attracted the funding within the framework of the “Women in Business” program.
This initiative with the European Union and the EBRD will further develop small and medium enterprises in Armenia, whose managers are women. Businesses operating in rural areas will be the focus of lending in local currency.
“The new resources will enable women to be more active and bold in business initiatives. Akba Bank already has significant achievements in lending to women’s business activities. women have a rather active role in the activities of the small and medium sector of the economy,” said Hakob Andreasyan, Chief Executive Officer of Akba Bank.
“As a result of our long-term cooperation with Akba Bank, we have already implemented a number of projects. The signed loan will be provided in two stages. 6 million will be provided in the first phase, the remaining 4 million will be provided next year. The EU provided us with additional financing in the form of guarantees that make our loan signed with Akba affordable. This is a multifaceted beneficial program. Akba has a good portfolio of clients. we are very happy to support Akba”, said Alkis Vryenios Drakinos, Regional Head of EBRD Caucasus.
Akba Bank has been cooperating with EBRD since 2003. To date, the EBRD has invested more than 2 billion euros in 207 projects in Armenia, supporting the development of the private sector and “green” economies.
The bank is controlled by the Central Bank of Armenia.
More details in the video