ArmInfo.The Eurasian Development Bank (EDB) proposed Ardshinbank JSC with $ 20 million revolving credit facility for a period of 3 years. The corresponding agreement was signed on June 28, 2017 by Managing Director for Assets and Liabilities of EDB Dmitry Ladikov-Roev and Chairman of the Board of Ardshinbank JSC Mher Grigoryan.
The funds are intended to finance the foreign trade operations of clients of Ardshinbank JSC clients in EDB. member states. One hundred percent of the loan will be used to finance export-import transactions between the member states of EDB. Facility can be provided in US dollars, Euros, Russian rubles or other currencies of the member states of the EDB. The agreement will facilitate the expansion of mutual trade between the member states of the EDB and thereby create prerequisites for deepening the integration processes between them.
The Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in January 2006 to promote the development of the market economy of the participating countries, their sustainable economic growth and the expansion of mutual trade and economic ties. The authorized capital of the EDB is $ 7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan.
"Ardshinbank" CJSC, which is the second largest bank in Armenia, has one of the largest retail chains, consisting of 64 branches. Ardshinbank is the only private individual in Armenia, which has been assigned ratings of two international rating agencies (Moody's and Fitch), equal to Sovereign rating.