June 25, 2020 / 2:15 PM / 16 days ago

EBRD lends $20 mln to ACBA-Credit Agricole Bank to help Armenia's COVID crisis

YEREVAN, June 25 (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it had provided a $20 million loan to Armenia’s ACBA-Credit Agricole Bank so it can give financial support to companies affected by the economic impact of the coronavirus pandemic.

ACBA-Credit Agricole, one of the leading banks in Armenia, finances agriculture and micro, small and medium-sized enterprises (MSMEs) in rural areas in particular.

Armenia, a nation of around 3 million people, has recorded well over 22,000 cases of the novel coronavirus, the highest in the South Caucasus region. (Reporting by Nvard Hovhannisyan; writing by Margarita Antidze; editing by Elaine Hardcastle)

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