Ameriabank to receive $30 million loan from Dutch FMO and DEG

YEREVAN, January 13, /ARKA/. Armenia-based Ameriabank is set to receive $30 million worth loans from two large Dutch lending organizations- Dutch FMO (Nederlandse financierings-maatschappij voor ontwikkelingslanden n.v.) and DEG (Deutsche investitiх ons - und entwicklungsgesellschaft MBH). 

A press release by Ameriabank said it has completed talks with both organizations and will direct $20 million at boosting businesses and $10 million will be spent to finance small-scale renewable energy projects, particularly, to help construct hydropower plants and windmills.

According to the press release, the loans will be allocated for a longer term. Only companies with annual turnover of 5 million to 5 billion Drams and with a staff no more than 250 people will qualify for credits.
The amount of credits will vary from $1.5 million to $5 million. 

Ameriabank was established on the basis Armenian Import-Export Bank. In April of 1995, the majority of shares of the bank were taken up by a foreign investor, who doubled the capital. In August of 2007 96% of the bank was obtained by “TDA Holdings Limited”, an investment company affiliated to the leading Russian investment bank – Troika Dialog. In June of 2008 the bank changed its name to Ameriabank CJSC. ($1 – 378.08 Drams).-0-