Inecobank and the FMO Netherlands Development Finance Company have signed a new loan agreement of up to $ 25 million US dollars, for crediting in the field of SME.
"We are happy to strengthen our cooperation with such an honorable Organization- "FMO" Netherlands Development financial company. This new contract is a part of our Bank's
strategy with the help of which we can extend our Customers' capabilities in the SME sector in Armenia , "said Inecobank Executive Director Garnik Tadevosyan.
"FMO Netherlands Development Finance Company is proud to support Inecobank, expanding SME finance access in Armenia and creating new jobs in Armenia "said FMO Executive Investment Manager Linda Brockhyzen.
Inecobank, cooperating with more than 30 international financial structures and microfinance funds since the beginning of 2017 has signed $ 52 million US $ total loan contracts and plans to add up 15 mln US dollar loan by the end of the year. Bank highly appreciates the investments of international financial structures that continue to support Inecobank to reach its ambitious goals, offering not only foreign currency and AMD loans on competitive terms, but also a wide range of technical support tools.
Inecobank CJSC was founded in 1996 and is one of the leading banks in Armenia. The mission of the Bank is to become a leader in providing Banking Services for retail, micro and SME Business Clients.
Inecobank cooperates with about 30 internationals financial institutions, including 3 shareholders, International Financial Corporation (IFC), German Development Bank (DEG) and
European Bank for Reconstruction and Development (EBRD), as well as large lenders, Black Sea Trade Development Bank (BSTDB), South-East European Foundation for Europe (EFSE), Austrian Development Bank (OeEB) OPEC Fund for International Development (OFID) and others. Inecobank has been cooperating with "FMO" Netherlands Development Finance Company since 2015. For more information, please visit the website: www.inecobank.am
FMO is a Dutch Development Finance Company that promotes the stable growth of the private sector, ambitious programs and entrepreneurs' businesses in developing countries and markets. FMO
strongly believes that a strong private sector leads to economic and social development and has been giving people the opportunity to apply their skills and improve their social position for over 45 years.
FMO concentrates on three key areas, which have high growth trends: financial institutions, energy and agro business, food and water. FMO is one of the world's largest banks financing the private sector and has a $ 9 billion EUR portfolio which is distributed in more than 92 countries. For more information, visit www.fmo.nl.
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