NO HINDRANCE TO PROJECT FUNDING IN ARMENIA – RUBEN VARDANYAN

YEREVAN, October 10. /ARKA/. There are no obstacles on the way to
project funding in Armenia, member of Ameriabank CJSC Managerial
Board Ruben Vardanyan told reporters on Thursday.

“There are quite many interesting projects in Armenia in various
fields, and they may get funding from Russia if they are interesting,
but no free money will be provided. These are market relations”,
Vardanyan said.

He said he sees no restrictions for money to be put into Armenian
economy, including that from Russia.

Vardanyan referred to the agreement signed on Thursday between
Ameriabank and the Dutch Development Bank (FMO) about convertible
subordinated debt facility that will have a favorable impact on the
Armenian economy.

“This is very important as an international company entered the
Armenian market, which means they believe there will be economic
development in Armenia”, Vardanyan said.

Ameriabank CJSC and FMO signed a USD 20mln convertible subordinated
debt facility agreement, on Oct 9, 2014. The convertible part worth
$12.5 million can be turned into capital after January 1, 2015.

Ameriabank is a universal bank that provides investment, corporate
and retail banking services in the form of a comprehensive package of
banking solutions. It is the first investment bank in Armenia that has
been providing a wide range of innovative banking services since 2007.

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From: Emil Lazarian | Ararat NewsPress