Armeconombank celebrates its achievements

In 2008 EBRD recognized Armeconombank the best Issuing bank in Armenia in the frames of EBRD Trade promotion programme. This has been reported by Davit Sukiasyan, the executive manager of Armeconombank during his meeting with journalists.

He also said that the bank had two more achievements. Sukiasyan noted that on December 14, 2007 Armeconombank signed a 15-million-dollar-valued syndicated loan contract with EBRD in accordance to which the means should be directed to crediting Armenian small and medium businesses.

«In accordance with the contract the first portion – 5 million dollars should have been paid back by January 20, however, taking into consideration the hit of the programme, the term of payment has been prolonged till January 18, 2010, with the mutual agreement of Armeconombank and EBRD», the executive manager said.

The third achievement was 5 million dollars of credit provided for Armeconombank by International Financial Corporation (IFC) in the frames of «Trade promotion programme».

The EBRD representative to Armenia Michael Weinstein, who was also present at the conference, said: «Armeceonombank is our old and reliable friend. We have come here to celebrate the mentioned achievements of the bank together, which are so important for the bank».