Financed ProjectsInecobank Trade Finance

Identification Code:

OP/06/0566

Total Operation Cost:

0

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

BSTDB and Inecobank have been partners since January 2007, when the Armenian bank received the first USD 3 million TF facility to advance sub-loans to Armenian import/export companies. The facility is used for financing exports from Armenia or imports of goods from the Black Sea region.

Countries of Operation:

Armenia (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Inecobank was established in 1996 as a private bank and maintains strong ranking in the Armenian banking market. 13.5% of its capital belongs to DEG, a member of KfW banking group, with another 10% owned by IFC. Inecobank has developed good experience in SME lending area under credit lines provided by the World Bank, Eurasia foundation, USAID financed programs, KfW (Germany), EBRD and DEG.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

In cooperation with Inecobank, BSTDB is able to reach a larger number of companies in Armenia and contribute to increasing of intra-regional trade among the member countries.

Environmental Classification and Impact (summary):

Inecobank is required to comply with BSTDB's Negative List of Goods, including the Environmental Exclusion List and the national environmental requirements, as well as make sure that the beneficiaries fully comply with these requirements.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org