On May 16 2024, in Yerevan, in the circuit of 33rd EBRD Business Forum, Ardshinbank signed an agreement with the European Bank for Reconstruction and Development (EBRD) and the European Union (EU) for the allocation of the second tranche of financing to re-lending micro, small, and medium businesses. This lending is carried out under the “MSME Competitiveness in the Eastern Partnership (EaP SMEC)” program.
This agreement will support MSME investments in sustainable technologies, as well as towards health and safety. All financed sub-loans are expected to align with the EBRD's Green Economy Transition (GET) initiative. Except long-term financing, sub borrowers will also receive grants after successful completion of their investment projects.
"Signing a contract with the largest bank in Armenia is the best way to conclude our business forum. I consider the cooperation between the two financial institutions and the European Union to be successful and I am very happy about it, as lending to MSMEs will help increase competitiveness in the country’s economy, especially among business structures operating in the regions," said in his speech Francis Malige, EBRD Executive Director for Financial Institutions.
Chairman of the Board of Ardshinbank, Artak Ananyan, thanked the EBRD and the European Union for their effective cooperation and trust in Ardshinbank. He particularly noted: "It is a great honor and responsibility for us to engage in a flagship partnership within the framework of the 33rd EBRD Business Forum and continue our cooperation with the European Bank for Reconstruction and Development and the European Union. The MSME sector is extremely important for the development of the Armenian economy, for promoting exports, and for creating jobs. Thanks to our large regional network, a significant portion of these funds will be strategically used to strengthen MSMEs in many regions."
Ardshinbank is the leading Bank in Armenia with a diversified universal banking offering including retail and commercial banking, investment banking, and private & wealth solutions. The Bank has over 380,000 customers served by 1,700+ employees, a strong omnichannel distribution platform with 65 branches, supported by a comprehensive mobile and online banking platform. The bank possesses the largest branch network in the country and maintains a representative office in Paris, France.
Ardshinbank is the only private entity in Armenia with assigned ratings from three international rating agencies, all at the level of the sovereign, as follows: S&P Global Ratings (BB- (Stable)), Moody’s (Ba3 (Stable)) and Fitch (BB- (Stable)). The bank is also the only non-sovereign entity from Armenia which has issued RegS /144A public Eurobonds in international capital markets.
Established in 1991, the European Bank for Reconstruction and Development (EBRD) boasts 39 member countries spanning from Central Europe to Central Asia. The bank's overarching mission is to foster the development of private sectors in post-Soviet countries. Armenia joined the EBRD as a member on December 7, 1992, contributing €10 million to the bank's capital. Key areas of collaboration between Armenia and the EBRD encompass energy, transportation, and the financial sector.
Ardshinbank is regulated by the Central Bank of the Republic of Armenia.
