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Local currency funding equivalent to USD 20 million supports sustainable small business growth
The European Fund for Southeast Europe (EFSE) provided a local currency loan equivalent to USD 10 million to partner ACBA-CREDIT AGRICOLE BANK to support the bank’s efforts in expanding access to finance for micro and small enterprises (MSEs) in Armenia. The facility represents the second loan under a larger financial package of USD 20 million in Armenian dram funding and tailored technical assistance to enhance the bank’s sales capacities and value proposition.
The funding is expected to enable ACBA-CREDIT AGRICOLE Bank to issue over 8,000 sub-loans to Armenian entrepreneurs in their own local currency, thus contributing to sustainable business and...
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