A loan agreement of USD 10 million was signed between OeEB and Inecobank, which will be directed to small and medium enterprises (SME) financing in Armenia.
„With this credit line we can make a substantial contribution to the economic development in Armenia. Especially SME are the backbone and engine of the economy,” says Andrea Hagmann, Member of the Executive Board of OeEB.
SME financing is a strategic direction for Inecobank. “With this agreement Inecobank will acquire new opportunities to develop its long-term financing activities,” says Avetis Baloyan, Chief Executive Officer of Inecobank.
OeEB and Inecobank have been cooperating since 2011. This cooperation has been strengthened due to the new loan agreement.