Operation Summary

Operation Name and Identification Code:

Armeconombank SME II

Operation Status:	Approved by the Board of Directors: 21 Jul 2011
	Signed: 20 Sep 2011
	Status: Active

Description and Purpose
of the Operation:

BSTDB SME facility will be used by Armeconombank for providing sub-loans to small and medium-sized enterprises with the purpose of creation, modernisation, expansion and diversification of industrial, production, agricultural or service-related facilities, as well as for export and pre-export financing.

Financial Product:

SMEs

Country of Operation/Location:

Armenia

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Armeconombank

Co-Financiers/Participants:

Guarantors/Sponsors:

Total Operation Cost:

0,00 USD

Maturity:

5 years

BSTDB Involvement:

5.000.000,00 USD

Developmental and Regional Cooperation Impact:

The Project is expected to have favourable economic benefits for the Armenian economy, the most relevant being additional tax revenue gains from increased economic activity. This will further increase employment, export capacity and competitiveness, and multiplier effects for other sectors of the economy.

Environmental Classification and Impact (summary):

Screened as FI category. The Borrower is required to: remain compliant at all times with local and BSTDB EHS requirements, including the Negative List; undertake environmental assessment of its sub-loans with high and medium risk and ensure their monitoring; and submit annual EHS performance reports.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org