Ameriabank CJSC and the Dutch Development Bank (FMO) have signed a $30-million loan agreement to finance young entrepreneurs’ SMEs, the bank’s press office reported on Thursday.

“We highly appreciate the relationship with our long standing partner, which started yet in 2009. Today we are pleased to announce about a new loan facility agreement, which marks the start of a new mutually beneficial cooperation,” Artak Hanesyan, CEO of Ameriabank, said after signing the agreement. “SME and retail business development is one of Ameriabank’s top-priority strategic focuses.”

He said Ameriabank sees a huge potential in youth SME and retail businesses and expressed confidence that the new financial resources will be distributed successfully.

FMO’s Chief Investment Officer Linda Broekhuizen, on her side, said FMO is proud to continue its close and successful relationship with Ameriabank, contributing to further economic development of Armenia.

This new loan will enable Ameriabank to continue its growth and will help creation of new jobs in the country.

It will also help Ameriabank in increasing its SME lending volumes. This will contribute to development of SMEs in Armenia and enhancement of their competitiveness in local and international markets.