ADB, Armeconombank Sign $15 Million Loan to Increase Lending for Women-Led Businesses

The Asian Development Bank (ADB) and Armeconombank OJSC (AEB) have signed a $15 million loan to support lending to micro, small, and medium-sized enterprises (MSMEs) in Armenia, with a specific focus on women and areas outside the capital, Yerevan.

“We are very pleased to be partnering with AEB to support MSMEs. The impact of MSMEs on Armenia’s economy is significant, and they are particularly important for women as they are avenues for their increased participation and contribution to the country’s economic development,” said Director of Financial Institutions at ADB’s Private Sector Operations Department Christine Engstrom.

Funding agencies: Asian Development Bank (ADB)

Countries: Armenia

Published: 2020-07-07

Sectors: Services