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Armenia to be granted 65 million dollars
The Asian Development Bank (ADB) has confirmed the allocation of a 65 million dollar loan to Armenia. The loan is being given for the expansion of small and medium businesses and entreprises.
The loan will be allocated to four Armenian banks, as well as small and medium enterprises for a five-year period.
According to the ADB's press release, small and medium entreprises make up 98 percent of the country's enterprises and ensure 40% of Armena's GDP and employment.
The loans will be given to ACBA Credit Agricole Bank, ArdShinInvestBank, Ameria and Ineco Banks. They are all guaranteed and have been held liable to expand the loans for the small and medium enterprises.
