PROJECT

Projects

Summary of Proposed Investment

Project Number

29523

Company Name

ARMENIAN ECONOMY DEVELOPMENT BANK

Date SPI Disclosed

Sep 16, 2010

Country

Armenia

Industry

Financial Markets

Projected Board Date

Oct 18, 2010

Status

Completed

Sector

Commercial Banking - SME Finance

Department

Regional Industry FIG LAC & EUR

Environmental Category

FI

Previous Events

Approved : Dec 16, 2010
Signed : Dec 28, 2010
Invested : Apr 13, 2011

Project Description

The Project consists of a long-term senior loan to AEB and a parallel long-term senior loan mobilized from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (“FMO”). Proceeds of loans will be used to finance investment projects of Armenian SMEs. The project will help the Bank expand its client base and provide funding to small- to medium-size enterprises (“SME”) from various economic sectors throughout all regions of Armenia to help them overcome the consequences of the economic crisis and ensure their long-term growth. SME sector plays an important role in Armenian economy in terms of contribution to the total GDP as well as job generation.

Sponsor / Cost / Location

Development Impact