The European Bank for Reconstruction and Development (EBRD) is providing $ 25 million loan to its longtime partner in Armenia Inecobank to support private companies that may have been affected by the economic impact of the coronavirus pandemic.
"Inecobank has a good opportunity to transfer the EBRD's funds to companies that are going through this unprecedented period. Providing financial support and uninterrupted lending to businesses is key to maintaining the economy”, said Dimitri Gvindadze, EBRD's head in Armenia.
During the Covid-19 crisis, EBRD continues to be a key international partner of Armenia, and this new funding is part of measures to help combat the effects of coronavirus and support recovery.
The EBRD is also a leading institutional investor in Armenia. To date the Bank has invested more than 1.5 billion euros in 183 projects in Armenia, supporting the development of the private sector and the transition to a stable "green" economy.
