Tweet
CREDITS OF IFC AND EBRD ARE CHEAPEST IN REGION, IFC YEREVAN OFFICE HEAD
SAYS
YEREVAN, DECEMBER 26, NOYAN TAPAN. The credit resources of the World
Bank's International Finance Corporation (IFC) are one of the cheapest
credits in the region, the IFC Yerevan Office head Nerses Karamanukian
stated at the December 26 press conference. In his words, "there are no
cheaper sources of financial resources in this region than the IFC and
the European Bank for Reconstruction and Development (EBRD)".
In the opinion of N. Karamanukian, the cheapness of credits of the IFC
and the EBRD is conditioned by the fact that these structures have set
themselves the goal of promoting the development of regional financial
markets.
According to information on the IFC website (www.ifc.org), since 2001,
the IFC has invested 21.07 million dollars in Armenia under various
programs. 10.57 million dollars of this sum has been provided to
several banks - mainly for mortgage and small and medium enterprises
(SME) crediting. Another 25 million dollars has been provided to
Ardshininvestbank, including 15 million dollars for crediting of the
above mentioned sectors.
SAYS
YEREVAN, DECEMBER 26, NOYAN TAPAN. The credit resources of the World
Bank's International Finance Corporation (IFC) are one of the cheapest
credits in the region, the IFC Yerevan Office head Nerses Karamanukian
stated at the December 26 press conference. In his words, "there are no
cheaper sources of financial resources in this region than the IFC and
the European Bank for Reconstruction and Development (EBRD)".
In the opinion of N. Karamanukian, the cheapness of credits of the IFC
and the EBRD is conditioned by the fact that these structures have set
themselves the goal of promoting the development of regional financial
markets.
According to information on the IFC website (www.ifc.org), since 2001,
the IFC has invested 21.07 million dollars in Armenia under various
programs. 10.57 million dollars of this sum has been provided to
several banks - mainly for mortgage and small and medium enterprises
(SME) crediting. Another 25 million dollars has been provided to
Ardshininvestbank, including 15 million dollars for crediting of the
above mentioned sectors.