Yerevan, Armenia, July 6, 2009—IFC,
a member of the World Bank Group, is providing Armenia’s Ameriabank with
a $5 million trade finance guarantee that will allow the bank to expand
financing of foreign trade transactions of its clients throughout the country.
Ameriabank has joined IFC’s Global Trade Finance Program as an issuing
bank. IFC will provide the bank with up to 100 percent guarantees for the
import and export operations of its clients, including small and medium
enterprises. The bank will have access to a global network of
more than 300 banks participating
in the program.
“We are proud to join IFC’s trade finance program, which will give us
more opportunities to generate international business with our customers,”
said Artak Hanesyan, General Director and Chairman of the Management Board
of Ameriabank. “Trade guarantees from such reputable institutions as IFC,
particularly during these difficult times, have a positive impact on our
bank’s expansion.”
Hanesyan also noted that Ameriabank hopes to expand its trade finance activities,
adding to the bank’s already broad range of services and products. The
bank has grown significantly during the last two years and aspires to be
the leading corporate and investment bank in Armenia.
Snezana Stoiljkovic, IFC Director for Central and Eastern Europe, said:
“We are glad to start our cooperation with Ameriabank. By joining
the IFC Global Trade Finance Program the bank will help Armenian companies
reach new markets and expand foreign trade in Armenia.”
The IFC Global Trade Finance Program, launched in 2005, supports trade
with emerging markets worldwide and promotes the flow of goods and services
to and from developing countries. IFC provides partial or full guarantees
for individual trade transactions and covers the payment risk of 150 issuing
banks in 72 countries. The program allows issuing banks to increase the
volume and value of trade transactions, with enhanced tenors and access
to competitive pricing terms.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totalled $16.2
billion in fiscal 2008, a 34 percent increase over the previous year. For
more information, visit www.ifc.org.
About Ameriabank
Ameriabank is one of the most dynamic banks in Armenia and ranked among
the country’s most stable financial institutions. It is the first investment
bank in Armenia, and since 2007 has been providing an extensive list of
innovative banking products and services specifically tailored to meet
its customers’ needs. It focuses mainly on corporate and investment banking
and supporting small and medium businesses in all sectors. Ameriabank is
owned by “TDA Holdings Limited”, an investment company affiliated with
Troika Dialog, a leading Russian investment banking group. For more information,
visit www.ameriabank.am.
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