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Business & Economy: Inecobank II Project in Armenia

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  • Business & Economy: Inecobank II Project in Armenia

    TendersInfo - Project Notices
    August 20, 2011 Saturday


    Armenia: Inecobank II Project in Armenia


    Project number 26681
    Company name Inecobank
    Country Armenia
    Sector Finance & Insurance
    Environmental category FI
    Department Reg Ind, Financial Markets, EMENA
    Status Active
    Date SPI disclosed June 19, 2008
    Projected board date July 21, 2008
    Previous Events Invested: December 24, 2008
    Signed: November 14, 2008
    Approved: November 12, 2008
    The project is to provide a senior loan of up to $3 million to
    Inecobank (or the Bank), a small Armenian commercial bank. The IFC
    loan will broaden the Bank s funding base and will be used for
    expansion of its financing of small and medium-sized businesses and
    strengthening its position in mortgage origination and consumer
    lending. As part of the project, IFC may also consider providing up to
    $2 million GTFP trade guarantee facility.


    The proposed IFC investment consists of a senior loan of up to $3
    million and a GTFP trade guarantee facility of up to $2 million.
    Inecobank is headquartered in Yerevan, Armenia. The Bank has currently
    5 branches and is planning to open additional outlets in Yerevan and
    the regions.

    country :Armenia

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