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One of protesters on Baghramyan Avenue sets himself to fire

Police cordon off Baghramyan Avenue, as protesters approach

Founding Parliament initiative to President Sargsyan: “Leave, otherwise you will face Ceausescu’s fate”

Demonstrators marching from Liberty Sqaure towards Republic Square

European Union concerned over latest developments in Yerevan

Activist Andrias Ghukasyan severely beaten up in detention facility

Richard Mills warns that Armenian law-enforcement officials responsible for human rights abuses could be sanctioned by the U.S. government

Albert Baghdasaryan: There is information that law enforcers have launched operation for neutralizing Daredevils of Sasoun

Sefilyan urged Armenian nation to become a human shield between police and territory of seized Police Station

Gunshots are heard and impact munitions used near seized Police station

Political forces of Armenia keep condemning last night's events, while Republican Party still silent

Police say police officer killed by sniper from area of seized police compound

Another member of Heritage Party Hovsep Khurshudyan detained

One of the medics held "hostage" by "Daredevils of Sasoun" group left the seized Police Patrol Service Regiment on July 29

U.S. Embassy urges Armenian government to take immediate steps to ensure violations of Armenians' constitutional and human rights do not recur

Armenian Police make statement: Leaders of protest action of July 29-30 resorted to sabotage and attacks

National Security Service of Armenia sets deadline for "Daredevils of Sasoun" to surrender: Otherwise they will be shooting at sight

More and more public and political organizations condemn past night's events in Yerevan

Prosecutor General's Office of Armenia initiates criminal case on fact of violence against journalists overnight into July 30 in Yerevan

Criminal charges brought against Heritage Party vice chairman Armen Martirosyan and activist Andrias Ghukasyan

EBRD to subscribe for 33,500,000 ordinary shares of Lydian International Limited at a price of C$11.39 Million

Jailed oppositionist Jirayr Sefilyan makes statement on recent events in Yerevan

Latest data from Healthcare Ministry: 73 people were hospitalized as a result of last night's events in Yerevan

Armenia's political forces and NGOs have already condemned last night's events in Yerevan

Armenia's Ombudsman: Police hinders detainees from meeting their lawyers

Deputy Chairman of Heritage Party Armen Martirosyan detained

Secretary General of CoE is concerned over events in Yerevan

According to Stratfor there is link between seizure of Police building in Armenia and negotiations over Nagorno-Karabakh settlement

Soldier of NKR Defense Army wounded

Oxfam jointly with EDRC summed up monitoring results of social service for lonely elderly programs

US Embassy to Armenia calls for immediate, safe, and unconditional release of medical personnel

Situation in Yerevan is relatively calm after clashes overnight

Supporters of Daredevils of Sasoun marching from Liberty Square to Khorenatsi Street

Protest of supporters of Daredevils of Sasoun kicks off on Liberty Square

Healthcare Ministry: Doctors, who are on territory of seized building, applied first aid to injured Araik Khandoyan

Helsinki Citizens' Assembly Vanadzor Office: Police has detained activists Albert Baghdasaryan and Hasmik Yevoyan

Armenian Police: Wounded members of Daredevils of Sasoun Artur Melkonyan and Armen Lambaryan are hospitalized

Beeline and Classical Music Development Foundation sup up annual results of cooperation

Armenian NSS informs about detecting new supporters of "Daredevils of Sasoun" group

Armenian Police: Two other members of Daredevils of Sasoun are wounded in firefight on the territory of the seized building

"Oxfam" Office in Armenia revealed certain omissions in "In-home social services for lonely elderly" program

Armenia's Police: Firefighting occurred on territory of Police Patrol Service Regiment-Araik Khandoyan is wounded

Armenian Ombudsman urges state bodies and public figures to activate efforts for eliminating any forms of human rights violations

VTB Bank (Armenia) is the first on Armenian market to launch money transfers via TelCell system

Journalist Levon Barseghyan to be released

Son of Arshak Sadoyan, member of Public Council, arrested over violence against police officer

Lawyer: Health condition of wounded Pavel Manukyan deteriorates, as he refuses food and medicines

Avaz Hasanov: Karabakh conflict can be settled by common consent, if Russia is left out of it

Director of Emergency Aid CJSC says wounds of members of "Daredevils of Sasoun" in territory of seized police regiment not heavy

Family of Monte Melkonyan addresses Serzh Sargsyan over arrest of Alek Yenigomshyan

Regional

ARARATBANK attracts $10 million from OFID for SME crediting

  • by Gayane Isahakyan

  • Thursday, July 17, 18:39

 ARARATBANK and The OPEC Fund for International Development (OFID) have signed a credit agreement at $10 million, press-service of the bank reported. The agreement was signed by OFID Director General Suleiman Jazir Al-Herbish and chairman of the ARARATBANK board, Ashot Osipyan. 

The bank will direct the given funds at  SME financing in the sphere of industry, trade, services and agriculture. The maximal size of credit will amount to $500 thsd. Credits will be delivered for 4 years and 10-11% of interest rate. 

Signing of the agreement in fact means the first cooperation programme of ARARATBANK with OFID. Director General of OFID said that ARARATBANK is a big player at the Armenian SME crediting market. Thanks to availability of a wide net of offices, the bank will provide availability of credit resources for the regional SME. 

For his part, Osipyan highly appreciated assistance for the SME development in Armenia, and assured that the cooperation of the parties will be not only fruitful but also long-lasting. 

Within the frames of the programmes in crediting private sector and trade financing, OFID gave $42 million to 4 Armenian banks and 4 social programmes targeted at SME crediting. 

The OPEC Fund for International Development (OFID) is a multilateral development finance institution established in 1976 by the Member States of the Organization of the Petroleum Exporting Countries (OPEC). OFID was conceived at the Conference of the Sovereigns and Heads of State of OPEC Member Countries, which was held in Algiers, Algeria, in March 1975. A Solemn Declaration of the Conference "reaffirmed the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelopment," and called for measures to strengthen cooperation between these countries. 

OFID's objective is to reinforce financial cooperation between OPEC Member Countries and other developing countries, by providing financial support to the latter for their socioeconomic development. The institution's central mission is to foster South-South Partnership with fellow developing countries worldwide with the aim of eradicating poverty.

According to the data of Financial Rating of Armenian Banks prepared by Arminfo, by the crediting volume ARARATBANK is in the leading ten. As of 1 April 2014,  credit portfolio of the bank amounted to $157.5 million, the SME crediting share - 47%. The assets of the bank amounted to $318.9 million - by 14,1% more versus 1 April 2013. The total capital of ARARATBANK at the end of March amounted to $49.8 million (growth by 18,1%). According to the results of the 1Q 2014, net profit of the bank amounted to $2.7 million. 

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