The second tranche of USD 10mln was attracted in the framework of the Loan Agreement signed in 2019 between ARMECONOMBANK OJSC and Dutch Development Bank (FMO) for USD 20mln. These funds are in line with FMO's inequality reduction strategy. ARMECONOMBANK will direct the raised funds to target groups in need of greater attention - Micro Enterprises, Women and Young Entrepreneurs, which will contribute to the development of Armenia's economy.

This loan facility fits with FMO’s strategy to reduce inequalities. ARMECONOMBANK will on-lend the raised amount to underserved clients, i.e. Micro Enterprises, Women and Young Clients, which will contribute to the development of Armenia’s economy.

The cooperation between ARMECONOMBANK and FMO, the Dutch Development Bank, was launched in 2010. Throughout three decades ARMECONOMBANK OJSC has emphasized the importance of cooperation with international organizations, the evidence of which is the comprehensive partnership record with first class IFIs witnessed by the successful projects and the level of trust towards the Bank.