YEREVAN. – The European Bank for Reconstruction and Development (EBRD) is in an early phase of discussing a new capital market scheme for Armenia, Mr. Mark Davies, Head of the EBRD’s Yerevan Resident Office told Friday at the annual presentation of Araratbank OJSC financial statement of 2014.

Araratbank, as well as other local banks, are involved in the talks, he said.

In cooperation with Araratbank and some of its peers, the EBRD expects to get underway in Armenia one of its credit tools, the MCFF (Medium-Sized Loan Co-Financing Facility), a risk-sharing scheme.

“Here we can work with local banks, targeting clients together, and investing alongside banks,” Mr Davies said.

He reminded that the Araratbank had been a client of EBRD since 2007, starting off with a credit line for small and medium businesses.

In October 2008, the EBRD became a shareholder of Araratbank, acquiring equity of 25% + 1 share.

Araratbank remains one of leading providers of trade finance in the national market. As a result, 2014 results of the program saw the bank recognized as the most active issuer bank in Armenia, Mr. Davies added.