ARARATBANK attracts € 3 mln from Triodos Investment Management

ARARATBANK and Triodos Fair Share Fund and Triodos Microfinance Fund, two financial inclusion investment funds managed by Triodos Investment Management from the Netherlands, concluded a bilateral loan agreement for a total amount of EUR 3 million for further support of local businesses.  

Focusing on green lending projects and supporting women in business, this loan will enable ARARATBANK to further expand its tailored financial products to meet the needs of SMEs. This will strengthen the development of this important sector while creating jobs and keeping the economy growing in the country, which is imperative in times of Covid-19 and a post war period.

“We are delighted to receive funding from a reliable partner such as Triodos Investment Management, especially these days when it is more than a necessity for SME’s to receive additional support and to improve their access to finance. With constructive business solutions we have always been supporting SMEs in responding to present-day challenges, adapting to changes, realizing the most ambitious plans and conquering new heights by uncovering their business potential. It is noteworthy that so far we have provided more than EUR 143 million to 3908 small and medium enterprises and it is continuously growing. In this context, ARARATBANK initiatives contribute to increasing the competitiveness of SMEs and shared growth in Armenia. I assure that we develop new strategies and preserve the role of a lifelong partner for businesses,” said Mher Ananyan, Chairman of the Executive Board of ARARATBANK.  

 

Rosanna Sarkeyeva, Regional Manager for Europe, Caucasus and Central Asia, Triodos Investment Management, in turn, noted: “ARARATBANK plays a very important role in addressing the current and future needs of the SME sector in Armenia, a sector which not only sustains and advances businesses but also forms the backbone of the country’s economy. Very important to us is that this loan enables ARARATBANK to further expand its focus on green lending products and women-led businesses, and to contribute to a robust financial infrastructure to mitigate the impact of COVID-19 and ease the consequences of the war”