Armeconombank and Belgian Incofin CVBA Investment company have signed the second credit agreement of $ 10 million.

The funds will be directed to the financing of micro and small enterprises, promoting Armenia's economy.

"Cooperation between Armeconombank and Incofin CVBA started in 2016 when the first loan agreement was signed. The second loan at a larger amount and term speaks about our mutual trust and strong business relationship, "said Astghik Melikyan, Deputy Director of International and Development at Armeconombank.

According to the report, Armeconombank attracted about $ 39mln from international financial institutions in 2016. The funds raised were directed to the financing of the bank, micro and small enterprises as well as trade promotion. And from the beginning of 2017 the bank has attracted about $ 26mln from international financial institutions for the same purposes and still plans to conclude another $ 12mln loan agreements by the end of the year.

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