ARARATBANK attracts new credit facilities from DEG

ARARATBANK and DEG‑DEUTSCHE INVESTITIONS‑ UND ENTWICKLUNGSGESELLSCHAFT MBH German investment institution entered into a loan agreement worth USD 10 000 000. 

This is the second cooperation agreement. The loan will enable the bank to increase lending to small and medium enterprises and disburse long-term funds. Out of credit facilities, 1 million will be used for funding German companies operating in Armenia.

It should be noted that DEG‑DEUTSCHE INVESTITIONS‑ UND ENTWICKLUNGSGESELLSCHAFT MBH German investment institution is a member of KfW banking group and finances investments of private companies in countries with emerging as well as transition economies.