Araratbank Allocates USD 10 Million in Financing to Women Entrepreneurs
News
The European Fund for Southeast Europe (EFSE) has provided a USD 10 million loan to AraratBank to support economic stability and stimulate the growth of the business sector in Armenia. This investment aims to support women entrepreneurs by facilitating their access to financing.
The new funding will enable AraratBank to issue more than 300 sub-loans with longer repayment terms, targeting micro, small, and medium-sized enterprises (MSMEs), particularly those majority-owned or managed by women. This initiative is part of a broader effort to strengthen business sustainability and job creation in Armenia, with the potential to support nearly 1,500 jobs and encourage further investment in the MSME sector despite current geopolitical challenges.
Oxana Binzaru, Regional Director of EFSE, commented on the partnership:
“We are pleased to strengthen our cooperation with AraratBank, a long-standing partner committed to promoting inclusive economic growth. This USD 10 million loan reflects our shared commitment to improving financial inclusion and empowering women entrepreneurs in Armenia by helping them overcome the many challenges they face in the business environment.”
Mher Ananyan, Chairman of the Executive Board of AraratBank, emphasized:
“Responding to a new strategic direction, our bank is fully committed to supporting women entrepreneurs in effectively bringing their business projects to life. This new collaboration with our trusted partner, EFSE, will strengthen our approach and further amplify our positive impact.”
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