PROJECT

Projects

Summary of Investment Information

Project Number

50722

Company Name

Converse Bank CJSC

Date SPI Disclosed

Jan 27, 2025

Country

Armenia

Region

Europe

Projected Board Date

Feb 27, 2025

Environmental Category

FI-3 - No Impact

Status

Pending Disbursement

Last Updated Date

Nov 19, 2025

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2004
Signed : Oct 25, 2024

Sector

Commercial Banking - Trade

Project Description

The project is an unfunded trade finance facility to Converse Bank OJSC (Converse Bank or the Bank or the Issuing Bank) in an aggregate amount of approximately US$5 million under IFC’s Global Trade Finance Program (“GTFP”) in the form of a trade line pursuant to which IFC would guarantee letters of credit and other trade instruments issued by the Bank to support the Bank’s trade program. The GTFP proposed investment will offer Confirming Banks partial or full guarantees covering payment risk of the Bank in Armenia for their trade-related transactions.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation