EFSE Provides EUR 3.4 Million Loan to ACBA Leasing to Support Micro and Small Enterprises in Armenia

Date: 
19 Dec 2014

The European Fund for Southeast Europe (EFSE) expanded its partnership with ACBA Leasing by providing it with a new EUR 3.4 million loan to support Armenian micro and small enterprises (MSEs). The new credit facility will enable ACBA Leasing to provide tailored financing to local MSEs, including agricultural clients. The organization became an EFSE partner lending institution in November 2013 and since then, has on‐lent two EFSE loans to MSEs.

“ACBA Leasing is an important partner in terms of increasing the EFSE’s impact and outreach in Armenia. We are therefore confident this new loan will support the further development of MSEs in Armenia in a sustainable and responsible way," said Monika Beck, Chairperson of the Board of EFSE. “Taking into account the main aim of our leading leasing company, that is the development of the Armenian SME market through the modernisation of fixed assets, we hope, together with the EFSE, to provide current and future customers with new financing possibilities. From the view of attracting new resources, the agreement with the EFSE also reinforces ACBA Leasing’s strategy of remaining an independent institution with a diversified loan portfolio. To address the scope of requirements from potential customers, ACBA Leasing is looking to provide specialised leasing services, including purchasing, shipping, customs clearance, and insurance for goods and equipment to be leased. The experience gained from successfully distributing the funds provided under previous loan agreements enables us to keep up the momentum as well as maximize both impact and efficiency," said Arsen Bazikyan, General Manager of ACBA Leasing. 

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Country: 
Armenia