Converse Bank signed Micro and SME financing loan agreement with Eurasian Development Bank

Converse Bank and the Eurasian Development Bank (EDB) have signed a 6 million US dollar agreement. These funds will be used to finance Micro and SME lending in Armenia.

“By signing this agreement we are announcing the beginning of a long-term cooperation with EDB.

This program will expand our financing in the real sector by supporting the micro, small and medium enterprises development.

MSMEs have the remarkable ability to fuel economic growth. They create many new job opportunities, drive innovation and expand the tax base.

MSMEs play a significant role in the rapid industrialization and development of the country,” explained Grant Akopian, bank’s CFO.

EDB is an international financial organization, which was founded in 2006 to assist the economic growth and intensification of trade relations of member countries and to further the integration processes.  Russia, Kazakhstan, Armenia, Tajikistan, Belarus and Kyrgyzstan are full members of EBD.

Converse Bank is one of the leading banks in Armenia offering universal banking services to individuals and corporate customers.  Micro and SME financing is one of the main strategic priorities of the bank.