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Mass media: Activist Ani Navasardyan detained on charge of provoking mass unrest

Serviceman of NKR Defense Army killed from adversary's shot

Group of journalists arrives at seized building of the Police Patrol Service Regiment

Investigative Committee: Charges pressed against three citizens of Armenia for participation in mass disorders

"Sasna Tsrer" released the rest two hostages -Osipyan and Yeghiazaryan

Russian Foreign Ministry criticized EU's statement on events in Yerevan

Major General Vitaly Balasanyan provides details of his meeting with "Daredevils of Sasoun"

Armenian Foreign Ministry verifying if there were citizens of Armenia among Munich shooting casualties

National Security of Armenia confirms: Members of armed group voluntarily release two of four hostages

National Security Service of Armenia says two persons tied to armed group detained

Nikol Pashinyan: Levon Ter-Petrosyan and Serzh Sargsyan plot yielding territories around Nagorno Karabakh to Azerbaijan

"Daredevils of Sasoun" reportedly releases two of four hostages

NKR Defense Army soldier wounded, as Azerbaijan violates ceasefire

Armenia and UAE sign agreement to boost and protect investments

Sharmazanov: It is more likely that Kura River changes its course and falls into Black Sea than Karabakh becomes part of Azerbaijan with any status

Galust Sahakyan: Talks on possible resignation of Armenian government are rumors

Russian political scientist: Destabilization of situation and pressure on authorities prevail in "Sasna Tsrer" group's actions

Statements that five districts adjacent to Nagorno Karabakh will be passed to Azerbaijan exert pressure on the process, Bryza says

Levon Ter-Petrosyan: It is senseless to analyze the reasons that led to armed seizure of state building

President: In Armenia problems are not settled through brutal force and hostage taking - this situation continues longer than we can afford

Serzh Sargsyan: Punishment of those guilty inevitable

Newspaper: After talks with "Daredevils of Sasoun," Vitaly Balasanyan met with Serzh Sargsyan

Social media warn: physical attack prepared on Nikol Pashinyan

Views from Tel Aviv: Loss of control over country may push external powers to settle Karabakh conflict not in favor of Armenian people

Armenia's Defense Ministry confirms: Azerbaijani side targets school in near border village of Movses

Maria Zakharova slams Armenian and Azerbaijani journalists

Azerbaijan keeps intensively violating ceasefire on Line of Contact

Republican Party of Armenia for peaceful resolution of standoff and hostage situation in Yerevan

Night was calm near seized building of Patrol Police Station in Yerevan

Government of Armenia dismisses idea of creating "Aviation Code"

Cyber security specialists to be trained in Armenia with support of Kaspersky Lab

Zakharova: Moscow hopes process around Nagorno Karabakh will not lose its dynamics

Paul Goble says Moscow has lost its interest in Christian Armenia and is moving to increase its ties with majority Shia Islamic Azerbaijan, Armenia's longtime enemy, and now with Sunni Turkey

Vartan Oskanian sees the solution to the current situation in Yerevan in political field only

Meeting of Vitaly Balasanyan and armed loyalists of jailed oppositionist is over; no details are reported

Maria Zakharova: We support measures taken by Armenia's authorities over seized Patrol Service Regiment in Yerevan

EU Delegation in Armenia makes a statement on recent events in Armenia

Forecast: Russian policy's stagnant Armenian vector fraught with "Ukrainization" of Armenia

Authorities send Vitaly Balasanyan to rebels as negotiator

View from Moscow: Role of April war in current protests in Armenia should not be underestimated

Healthcare Minister: None of those suffered in clashes at Khorenatsi Street is in extremely critical condition

Ara Abrahamyan: Situation in Yerevan demonstrates that there is a need for dialog between society and authorities

Azerbaijani side did not lead OSCE mission to its frontlines during planned monitoring of Line of Contact

Armenia's Economy Minister calls for tolerance and reasonableness

Analyst: In negotiations with Zhirayr Sefilyan's supporters authorities should consider factor of weapons fallen in the rebels' hands

Investigative Committee: 16 people arrested on suspicion of participating in mass disorder at Khorenatsi Street

In H1 2016, Anelik Bank increased deposit portfolio by 13.5% y-o-y due to significant growth of private deposits

Adversary continues to intensively violate ceasefire on Line of Contact

Armenian Police gives explanations related to clashes at Khorenatsi Street overnight

Police: 136 people detained following clashes at Khorenatsi Street

Regional

EFSE supports Araratbank fostering MSE banking

  • by Gayane Isahakyan

  • Thursday, June 19, 06:06

The European Fund for Southeast Europe (EFSE) expanded its partnership with Araratbank OJSC (Araratbank, the Bank) by issuing an additional USD 12 million senior loan to fund sub-loans destined for micro and small enterprises (MSEs) in Armenia.  

Araratbank is a long-standing partner lending institution of the EFSE that has always shown a strong commitment to serving the Fund's target group of MSE owners, and thus to supporting the economic activity in the country. This additional long-term financing provided by EFSE will enable Araratbank to offer loans with longer maturity and address the working capital and investment needs of MSEs in a sustainable way.  

"Since our cooperation began four years ago, Araratbank has consistently proved a trustworthy and successful partner for the EFSE," says Monika Beck, Chairperson of the Board of the EFSE. "Supporting Araratbank's ability to provide long-term financing is essential to foster responsible banking practices, and therefore to fulfil the EFSE's mission of facilitating sustainable financing for micro and small enterprises." 

"This latest senior loan is the fourth credit facility Araratbank OJSC has obtained from the EFSE, and this fact alone is the best evidence for the strength and stability of the relationship between our two institutions. Within the framework of the previous agreements, we provided loans for 967 projects related to micro and small enterprise activities. The EFSE's funding enabled us to offer our clients financing under long-term, affordable and competitive terms and to diversify our loan portfolio," stated Ashot Osipyan, CEO of Araratbank OJSC, touching upon the new loan agreement signed for the purposes of stimulating micro and small enterprises in Armenia. He also saluted the effectiveness with which the EFSE Development Facility provided technical assistance in improving the Bank's risk management structures, branch network management and internal audit systems. The senior loan will specifically serve to finance sub-loans with an interest rate in the 10-11% range and a 5-year maturity.  
The European Fund for Southeast Europe (EFSE) was initiated by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey. As access to finance is a key success factor in developing the micro, small and medium enterprise segments, the EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing. The funding the EFSE provides as long-term finance primarily for micro and small enterprises (MSEs) – but also for private households in the form of home improvement loans – is channelled to these loan customers through local partner lending institutions. Supporting the EFSE's investment activities is the EFSE Development Facility, which provides partner lending institutions with technical assistance, consulting and training services to build operational capacities and professional management.  

Initiated by KfW Development Bank (KfW) on 15 December 2005 from four multi-donor programs under its management, the EFSE is the first public-private partnership of its kind and the first privately managed fund in development finance to leverage private funding for MSE finance in the target region. Capital is provided by donor agencies, international financial institutions and private institutional investors, including the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Commission (EC), the Government of Albania, Small and Medium Business Credit Support CJSC (SMBCS), a subsidiary of the Central Bank of Armenia, the Development Bank of Austria (Oesterreichische Entwicklungsbank - OeEB), the Swiss Agency for Development and Cooperation (SDC), the Danish International Development Agency (Danida), KfW as Lead Investor, the International Finance Corporation (IFC), the Netherlands Finance Company (FMO), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank  (EIB), Sal. Oppenheim and Deutsche Bank.  

Oppenheim Asset Management Services S.a r.l., Luxembourg, and Finance in Motion GmbH, Germany, are, respectively, the EFSE's Fund Manager and Fund Advisor.  

For more information about the European Fund for Southeast Europe, please visit: http://www.efse.lu/ 

As of 31 March 2014, Araratbank OJSC bank's loan portfolio totalled AMD 61,458 million, with small and medium enterprises accounting for 55.2% of the total loan portfolio. At AMD 131,789 million, total assets were up by AMD 6,553 million or 5.2% compared to the year-end. Liabilities amounted to 111,214 million, up by AMD 5,610 million or 5.3% versus the end of 2013.  Total equity amounted to AMD 20,575 million on 31 March 2014, a 4.8% increase (AMD 942 million) compared to the end of 2013. As of 31.03.2014, net profits of Araratbank OJSC for the current year to date amounted to AMD 1,103 million.  Media contact EFSE Media Relations Merle Romer Manager Communications and Events e-mail: press@efse.lu Tel: +49 (0)69 9778 7650-171 Media contact Araratbank Media Relations Anna Baghdasaryan PR Adviser to CEO E mail-pr@araratbank.am Tel: +374 (0)91-45-55-85 www.araratbank.am

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