Converse Bank and Armenian Export Insurance Agency have signed a memorandum of cooperation.

Within the framework of the memorandum, AEIA and Converse Bank will implement a program aimed at increasing the production of Armenian resident enterprises, promoting export and expanding their sales markets.

"The development of economy in Armenia, the development of competitive production in international markets, export support are one of the most important directions of Converse Bank activity. By signing the Memorandum, Converse Bank will provide a streamlined procedure and funds to RA resident export organizations to afford replenishment of working capital that can be used both for the production of goods and for their export. There will be no need for a pawn, as a security measure, the insurance certificates issued by Armenian Export Insurance Agency will be accepted, "said Converse Bank Executive Director Artur Hakobyan.

"I am convinced that as a result of cooperation with Converse Bank, the demand for AEIA services will increase, which will contribute to the increase of competitiveness of exporters and expansion of export opportunities," said AEIA Executive Director Armen Shahnazaryan.

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