EBRD extends trade credit to Araratbank

The European Bank for Reconstruction and Development (EBRD) is extending US$5mn credit line and a US$1mn limit under its trade facilitation programme to Araratbank, a privately-owned Armenian bank.

The financing package will also include a technical cooperation grant for institution building.
Araratbank will be able to use the financing to on-lend to micro, small and medium-sized businesses. The trade finance credit limit will enable the bank to offer trade finance facilities, which most Armenian banks have limited access to.

The loan is being provided under the EBRD's Armenian multi-bank framework launched in March 2006.