ARMECONOMBANK attracted a USD 10 million from OPEC Fund

ARMECONOMBANK, expanding its cooperation with international partners, has attracted USD 10 million from the OPEC International Development Fund aimed at financing micro, small and medium-sized enterprises, particularly green projects, energy efficiency programs, as well as women entrepreneurs, giving them the opportunity to receive the necessary funds for business development, new jobs to create and expand operations.

To date, the Bank has signed 124 loan agreements worth USD 680 million with international and other development financial institutions, contributing to the development of SMEs.

OPEC Fund is a development finance agency established in 1976 by OPEC (Organization of the Petroleum Exporting Countries) member countries to assist non-OPEC countries.