YEREVAN. – Ardshininvestbank of Armenia received the second credit tranche of USD 5 million under the Loan agreement for USD 10 million.

The agreement was signed with the American company “World Business Capital” (WBC) on March 14, 2013, guaranteed by the U.S. Government's Development Finance Institution OPIC (The Overseas Private Investment Corporation).

The first tranche in an equal amount of USD 5 million has been successfully utilized by the Bank.

According to the information received from the Bank, just like in the case of the first tranche, these funds will be channeled to financing small and medium-sized enterprises (SMEs), as the Bank’s main target group.

Mher Grigoryan, Chairman of the Management Board of Ardshininvestbank, emphasized: “Actually, the whole branch network of the Bank will be involved in this process, providing sub-loans with the interest rate from 10 percent per annum and a tenor of up to five years.”