Armeconombank - Armenia issued the following announcement on Jan. 28.

On December 27, Armeconombank and Singapore's EFA Group, a Singapore-based EFA Financial Institutions Debt Fund PTE. Ltd. the investment company signed a loan agreement, the means of which will be directed to small and medium enterprise business lending in Armenia.

The loan provided by this contract is the first investment of Singapore company in Armenia.

It should be noted that ARMECONOMBANK has concluded deals with international lending companies for SME lending and Trade Finance transactions in 2018 with a total value of about $ 26 million and credit contracts, which can be distinguished.

The business financing program, managed or maintained by the European Bank for Reconstruction and Development,

SME business lending program by DEG German Development Financing Company, subsidiary of German KfW Group, and

The Asian Development Bank's Trade Facilitation Program is a program for business financing of Armenian import / export companies.

Original source can be found here.