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During the 33rd annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD), Ardshinbank CJSC and the Dutch entrepreneurial development bank FMO signed a Guarantee Agreement for a credit portfolio worth 20 million US dollars with a term of 7 years.

The contract, signed within FMO's Nasira program, provides Ardshinbank with broad opportunities to expand its credit portfolio by attracting new MSME clients, particularly youth, women, immigrants, and entrepreneurs operating in rural areas.

Chairman of the Management Board of Ardshinbank, Artak Ananyan, highly appreciated the importance of cooperation with FMO, stating: "The signed contract is of great importance both for Ardshinbank and for our country's economy. The MSME sector is extremely important for Armenia's economic development, export promotion, and creation of new jobs. Additionally, this is a unique innovation, as there are no alternative services in the market providing the credit portfolio protection that Nasira offers."

"FMO has been active for a long time in Armenia and we are very happy that we are now also engaging with Ardshinbank, one of Armenia’s leading financial institutions. The Nasira transaction will support Ardshinbank in achieving its strategic goal of growing its MSME customer base, which is fundamental for the overall socio-economic development of the country.  We want to thank Ardshinbank for their trust and we are looking forward to a long-lasting relationship," remarked Huib-Jan De Ruiter Co-Chief Investment Officer at FMO.

Ardshinbank is the leading Bank in Armenia with a diversified universal banking offering including retail and commercial banking, investment banking, and private & wealth solutions. The Bank has over 380,000 customers served by 1,700+ employees, a strong omnichannel distribution platform with 65 branches, supported by a comprehensive mobile and online banking platform. The bank possesses the largest branch network in the country and maintains a representative office in Paris, France.

Ardshinbank is the only private entity in Armenia with assigned ratings from three international rating agencies, all at the level of the sovereign, as follows: S&P Global Ratings (BB- (Stable)), Moody’s (Ba3 (Stable)) and Fitch (BB- (Stable)). The bank is also the only non-sovereign entity from Armenia which has issued RegS /144A public Eurobonds in international capital markets.

FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record in empowering entrepreneurs to make local economies more inclusive, productive, resilient and sustainable. FMO focuses on three sectors that have high development impact: Agribusiness, Food & Water, Energy and Financial Institutions. With a total committed portfolio of EUR ~13 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. For more information: please visit

Ardshinbank is regulated by the Central Bank of the Republic of Armenia.

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