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IFC TO HELP ANELIK BANK INCREASE SME LENDING THROUGH IMPROVED RISK MANAGEMENT
Noyan Tapan
03.11.2010 | 16:36
Yerevan, Armenia, November 2, 2010-IFC, a member of the World Bank
Group, will help Armenia's Anelik Bank improve its risk-management
practices and increase lending to smaller businesses. This initiative
is part of a broader IFC strategy to strengthen banks in the region
in the aftermath of the global financial crisis.
Experts from IFC's Financial Market Crisis Response Program will
help Anelik Bank build internal capacity by training bank staff in
risk mitigation best practices focused mostly on long-term lending
programs to small and medium enterprises.
"In our 20 years of operations, Anelik Bank has always given great
importance to collaboration with international financial institutions.
We cooperated with almost all international financial organizations
operating in Armenia, and this program with IFC will complete
the list," said the Chairman of the Board of Anelik Bank, Samvel
Chzmachian. "This new program will enable Anelik Bank to introduce
new mechanisms for risk management and raise the efficiency of lending
to small and medium enterprises."
Thomas Lubeck, IFC Regional Head of the Caucasus, said, "We look
forward to working with Anelik Bank to improve its risk-management
practices, increase the sustainability of its small business lending
operations, and create additional opportunities for economic growth
in the country."
In partnership with the governments of Austria and the Netherland,
IFC in 2009 launched the Financial Market Crisis Response Program in
Europe and Central Asia. The program has delivered training to over
1,000 senior- and middle-level banking professionals, disseminating
good practice on risk management and how to deal with distressed
assets. IFC experts are also working on legislation to help create
transparent and working markets for distressed assets to facilitate
the post-crisis recovery in the region.
Since Armenia became a member of IFC in 1995, IFC has invested million
in 18 projects across the industry spectrum, including financial
markets, general manufacturing, energy, mining, and chemicals. IFC
Advisory Services provide advice through projects focusing on
the financial sector, sustainable energy, and investment climate
regulatory simplification.
From: A. Papazian
Noyan Tapan
03.11.2010 | 16:36
Yerevan, Armenia, November 2, 2010-IFC, a member of the World Bank
Group, will help Armenia's Anelik Bank improve its risk-management
practices and increase lending to smaller businesses. This initiative
is part of a broader IFC strategy to strengthen banks in the region
in the aftermath of the global financial crisis.
Experts from IFC's Financial Market Crisis Response Program will
help Anelik Bank build internal capacity by training bank staff in
risk mitigation best practices focused mostly on long-term lending
programs to small and medium enterprises.
"In our 20 years of operations, Anelik Bank has always given great
importance to collaboration with international financial institutions.
We cooperated with almost all international financial organizations
operating in Armenia, and this program with IFC will complete
the list," said the Chairman of the Board of Anelik Bank, Samvel
Chzmachian. "This new program will enable Anelik Bank to introduce
new mechanisms for risk management and raise the efficiency of lending
to small and medium enterprises."
Thomas Lubeck, IFC Regional Head of the Caucasus, said, "We look
forward to working with Anelik Bank to improve its risk-management
practices, increase the sustainability of its small business lending
operations, and create additional opportunities for economic growth
in the country."
In partnership with the governments of Austria and the Netherland,
IFC in 2009 launched the Financial Market Crisis Response Program in
Europe and Central Asia. The program has delivered training to over
1,000 senior- and middle-level banking professionals, disseminating
good practice on risk management and how to deal with distressed
assets. IFC experts are also working on legislation to help create
transparent and working markets for distressed assets to facilitate
the post-crisis recovery in the region.
Since Armenia became a member of IFC in 1995, IFC has invested million
in 18 projects across the industry spectrum, including financial
markets, general manufacturing, energy, mining, and chemicals. IFC
Advisory Services provide advice through projects focusing on
the financial sector, sustainable energy, and investment climate
regulatory simplification.
From: A. Papazian