Cooperation Established within the Framework of the European Investment Bank Financing Program

Credit Concept UCO CJSC is laying new foundations for attracting credit resources to meet the needs of Small and Medium-sized Enterprises (SMEs) operating in the manufacturing, tourism, and agriculture sectors. To this end, on January 26, 2024, a cooperation agreement was signed with the Central Bank of the Republic of Armenia, which allocates the funds of the European Investment Bank's (EIB) "Economic Resilience in Armenia" loan agreement in the RA financial market.

Under the cooperation agreement, the specified program funds of the European Investment Bank have become available to the SME clients of Credit Concept UCO CJSC who have the status of a legal entity or a sole proprietor, operate in the manufacturing, tourism, and agriculture sectors, and have goals aligned with those set by the EIB loan program.

Remaining true to its mission and core values, Credit Concept UCO CJSC simultaneously expresses its readiness to make efforts toward the goal of the EIB as a donor organization, which is to enhance Armenia's economic resilience. To achieve this, it makes financing available to its clients on favorable terms, thereby significantly improving their competitive potential in the aforementioned sectors. Within the framework of the program, clients can be provided with loans on terms that are significantly more favorable than current market lending conditions.

The European Investment Bank (EIB), which is the financial institution of the European Union, continues its active investment operations in the RA, providing special financing conditions for Armenian enterprises. A unique feature of the program is that borrowing organizations can gain a financial advantage by benefiting from the preferential terms of the investment program.

Under the program, enterprises operating in the RA can benefit from financing provided for the development of agriculture and tourism under the following conditions:

• Financing currency: AMD (Armenian Dram)

• Nominal interest rate: 11%

• Financing term: Up to 90 months, with a grace period of up to 24 months.

All private small and medium-sized enterprises with no more than 250 employees are eligible to benefit from the program.