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EBRD TO KEEP ON CONTRIBUTING TO DEVELOPMENT OF ARMENIA'S BANKING SYSTEM
Yerevan, December 12. ArmInfo. The European Bank for Reconstruction
and Development (EBRD) will keep on contributing to the development
of Armenia's banking system, EBRD's regional economist, Alex Kirimich,
told the journalists.
According to him, improvement of the crediting environment is observed
in Armenia since the end, 2005 until now In view of the upgrading of
the monitoring standards, carried out by the RA CB.
According to him, there are still unsolved questions in the area
of corporative management and transparency of ownership. A. Kirimich
noted that, despite the private sector crediting level increase in 2005
by 33% in a nominal value, the level of the financing accessibility
in the country remains one of the weakest in the region, whish are
indicated by a ratio of credits in GDP at the level of 8,2%.
To note, the EBRD participates in the capital of Armeconombank (2,5%),
with which it carries out joint investment programs for financing of
a small and medium business, for trade financing and co-financing
of a medium and large business. The Eurobank is also working with
the ACBA-Credit Agricole per the last program, with which it carries
out a joint program for crediting of a small and medium business and
for giving the bills of credits and banking guarantees. The EBRD,
together with the Anelik Bank, implements a program for crediting of a
small and medium business and for the trade financing. With INECOBANK,
the EBRD carries out the programs for crediting of a small and medium
business and for granting the bills of credits and banking guarantees.
Yerevan, December 12. ArmInfo. The European Bank for Reconstruction
and Development (EBRD) will keep on contributing to the development
of Armenia's banking system, EBRD's regional economist, Alex Kirimich,
told the journalists.
According to him, improvement of the crediting environment is observed
in Armenia since the end, 2005 until now In view of the upgrading of
the monitoring standards, carried out by the RA CB.
According to him, there are still unsolved questions in the area
of corporative management and transparency of ownership. A. Kirimich
noted that, despite the private sector crediting level increase in 2005
by 33% in a nominal value, the level of the financing accessibility
in the country remains one of the weakest in the region, whish are
indicated by a ratio of credits in GDP at the level of 8,2%.
To note, the EBRD participates in the capital of Armeconombank (2,5%),
with which it carries out joint investment programs for financing of
a small and medium business, for trade financing and co-financing
of a medium and large business. The Eurobank is also working with
the ACBA-Credit Agricole per the last program, with which it carries
out a joint program for crediting of a small and medium business and
for giving the bills of credits and banking guarantees. The EBRD,
together with the Anelik Bank, implements a program for crediting of a
small and medium business and for the trade financing. With INECOBANK,
the EBRD carries out the programs for crediting of a small and medium
business and for granting the bills of credits and banking guarantees.