AraratBank issues USD 10M loan for Armenian Women Entrepreneurs

From European Fund for Southeast Europe (EFSE), AraratBank has allocated a USD 10 million loan facility for the empowerment of women entrepreneurs. Through access to finance, the bank urges to enhance Armenia’s economic resilience as well as business growth.

The bank shall be able to issue more than 300 sub-loans with the new funding having longer maturities while keeping the target at micro, small, and medium-sized enterprises (MSMEs), specifically for women-led or women-owned ones.

In order to boost sustainability of business and job creation in Armenia, this particular initiative plays a part in the bigger efforts to assist almost 1,500 jobs while stimulating further investment in the MSME sector amidst ongoing geopolitical challenges.

EFSE Regional Director, Oxana Binzaru stated, “We are proud to strengthen our collaboration with AraratBank, a long-standing partner committed to fostering inclusive economic growth. This USD 10 million loan is a testament to our shared dedication to enhancing the financial inclusion and empowerment of women entrepreneurs in Armenia, supporting them in overcoming the various challenges they face in the business world.”

Additionally, AraratBank’s Chairman of the Executive Board, Mher Ananyan added, “The recent focus of the bank’s policy has been on supporting women entrepreneurs in the best possible way, aiming to bring their business ideas to fruition effectively. The new cooperation with our trusted partner EFSE will further bolster this effort, making the process even more impactful.”