ARMSWISSBANK CJSC and EDB signed an agreement for TFP supporting in the RA

On the 24^th of March 2022, a new loan agreement with ARMSWISSBANK CJSC and the Eurasian Development Bank (EDB) was signed to promote trade financing in the amount of USD 5 million.

“This agreement with ARMSWISSBANK CJSC is a continuation of the successful implementation of the EDB Trade Promotion Program in the member states of our Bank. We believe that the implementation of this program will have a positive impact on the development of the Bank’s activities, will contribute to the promotion of commercial financing of the Bank’s customers in the Republic of Armenia, as well as the strengthening of further economic cooperation among  EDB member states.” said Denis Ilin, Vice Chairman of the EDB Management Board.

“We consider expanding cooperation with international financial institutions in the field of trade finance. Trade finance is one of the strategic directions for the Bank, we already have a rich experience in this field due to long-term cooperation with various international organizations. This is the first agreement between ARMSWISSBANK and EDB, and we hope that the existing cooperation  has a great development perspective, which can provide more fruitful  financing conditions for our customers, ” noticed Gevorg Machanyan, Executive Director of ARMSWISSBANK.

Being a dynamically developing financial institution, ARMSWISSBANK operates in the field of corporate and investment banking services, offering both traditional and modern financial solutions adopted in the international banking system. Among Armenian banks, Armswissbank ranks 4th in terms of capital, 5th in terms of profit and 6th in terms of assets. The Bank cooperates with a number of other international organizations, such as EBRD, ADB, KFW, EIB, etc. The Bank is very active in the FSB sector and in 2021 for the third time in a row was awarded the “Most Active Issuing Bank in Armenia” by the EBRD, and the Bank was awarded the “Leading Partner Bank in Armenia” in 2021 in the field of trade finance.

The Eurasian Development Bank is an international financial organization which implements  investment activity in the Eurasian region. For 15 years, the EDB has been supporting  strengthening, expansion, and all round development of economic ties among the member states of the EEU . EDB’s statutory capital is $ 7 billion. The main share of the EDB portfolio is occupied by projects with integration effects in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and architecture. Throughout its operations, the Bank has been guided by the Sustainable Development Goals UN and the principles of the ESG.