The European Investment Bank (EIB) and the Central bank of Armenia (CBA) have signed a €50 mln loan agreement to finance SME projects, CBA press service reports.
The loan will be provided to the Central Bank of Armenia, which will make the funds available to SMEs.
Loans to be provided to small and medium sized businesses will mostly aim to promote exports, tourism, agriculture and processing of agricultural products.
CBA President Artur Javadyan said the projects will push the local business towards competitive and sustainable development, at the same time contributing to the development of green financing in intermediary financial institutions.
The program is the third initiative between EIB and CBA since 2014.
