TendersInfo – Project Notices
August 20, 2011 Saturday

Armenia: Inecobank II Project in Armenia

Project number 26681
Company name Inecobank
Country Armenia
Sector Finance & Insurance
Environmental category FI
Department Reg Ind, Financial Markets, EMENA
Status Active
Date SPI disclosed June 19, 2008
Projected board date July 21, 2008
Previous Events Invested: December 24, 2008
Signed: November 14, 2008
Approved: November 12, 2008
The project is to provide a senior loan of up to $3 million to
Inecobank (or the Bank), a small Armenian commercial bank. The IFC
loan will broaden the Bank s funding base and will be used for
expansion of its financing of small and medium-sized businesses and
strengthening its position in mortgage origination and consumer
lending. As part of the project, IFC may also consider providing up to
$2 million GTFP trade guarantee facility.

The proposed IFC investment consists of a senior loan of up to $3
million and a GTFP trade guarantee facility of up to $2 million.
Inecobank is headquartered in Yerevan, Armenia. The Bank has currently
5 branches and is planning to open additional outlets in Yerevan and
the regions.

country :Armenia