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IFC SUPPORTS DEVELOPMENT OF SMALL AND MEDIUM ENTERPRISES IN ARMENIA
PanARMENIAN.Net
June 7, 2010 - 17:01 AMT 12:01 GMT
With International Financial Corporation's (IFC) funding, ACBA Leasing
will finance the leasing of transportation vehicles and manufacturing
and agricultural equipment to small and medium Armenian businesses
across the country through ACBA-Credit Agricole Bank's existing
branch network.
"This timely support from IFC will help ACBA Leasing diversify
our funding base and deepen institutional capacity to meet clients'
needs," said Stepan Gishyan, General Manager of ACBA Leasing. "It also
will allow us to continue our policy of financing local businesses to
obtain new equipment under leasing, thus helping the Armenian economy
recover after the global financial crisis."
Thomas Lubeck, IFC Regional Head, Caucasus, said, "Leasing is an
excellent financial product for small and midsize companies, and IFC
has been supporting the development of leasing in Armenia since 2002.
We are happy to build on our investment relationship with such a
strong company as ACBA Leasing."
IFC was a founder of ACBA Leasing, Armenia's first leasing company
and a subsidiary of ACBA Credit Agricole Bank. IFC invested equity
and provided a long-term senior loan to the company in 2003, the IFC
press service said to PanARMENIAN.Net
IFC has been investing in Armenia since 2000, supporting financial
institutions, small retailers, and the hotel and other industries. IFC
also has implemented advisory projects to strengthen the financial
sector, establish a sustainable market for energy efficiency and
renewable energy investments, and improve the country's business
environment.
From: A. Papazian
PanARMENIAN.Net
June 7, 2010 - 17:01 AMT 12:01 GMT
With International Financial Corporation's (IFC) funding, ACBA Leasing
will finance the leasing of transportation vehicles and manufacturing
and agricultural equipment to small and medium Armenian businesses
across the country through ACBA-Credit Agricole Bank's existing
branch network.
"This timely support from IFC will help ACBA Leasing diversify
our funding base and deepen institutional capacity to meet clients'
needs," said Stepan Gishyan, General Manager of ACBA Leasing. "It also
will allow us to continue our policy of financing local businesses to
obtain new equipment under leasing, thus helping the Armenian economy
recover after the global financial crisis."
Thomas Lubeck, IFC Regional Head, Caucasus, said, "Leasing is an
excellent financial product for small and midsize companies, and IFC
has been supporting the development of leasing in Armenia since 2002.
We are happy to build on our investment relationship with such a
strong company as ACBA Leasing."
IFC was a founder of ACBA Leasing, Armenia's first leasing company
and a subsidiary of ACBA Credit Agricole Bank. IFC invested equity
and provided a long-term senior loan to the company in 2003, the IFC
press service said to PanARMENIAN.Net
IFC has been investing in Armenia since 2000, supporting financial
institutions, small retailers, and the hotel and other industries. IFC
also has implemented advisory projects to strengthen the financial
sector, establish a sustainable market for energy efficiency and
renewable energy investments, and improve the country's business
environment.
From: A. Papazian