ADB, Armeconombank sign $15m MSME loan

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

MSME financing is constrained in Armenia, especially for businesses owned and run by women. It is estimated that half of Armenia’s 130,000 MSMEs have no access to commercial financing, and up to 60%-70% in rural areas.