European Union facilitating access to trade finance | EUNewsletter

European Union facilitating access to trade finance

7 October 2014
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The European Bank for Reconstruction and Development (EBRD) and the EU organised a trade finance conference on 1 October at Elite Plaza Business Centre. It was aimed at increasing awareness and facilitating better access to trade finance instruments for small- and medium-sized enterprises (SMEs) in Armenia. The 2-day event gave opportunity for international experts to discuss the perspectives and challenges faced by local entrepreneurs in accessing trade finance in Armenia.

Head of the Cooperation Department of the EU Delegation in Armenia Hoa-Binh Adjemian spoke about the background of Armenia-EU cooperation: ‘The European Union has been one of the main donors for Armenia in recent years: we provided loans of approximately €50 million to develop the private sector. Currently, we are leveraging a €500 million worth programme in Armenia. After Armenia enters the [Eurasian] Customs Union, the EU will continue working with the private sector and help to develop the business climate. Various programmes implemented through EBRD have all been very fruitful; therefore, we will continue devising new ones’.

The conference gathered together a number of high-profile speakers as well as representatives from local SMEs, commercial banks and various business associations, who discussed the current trends in trade finance and the development needs of this sector. It also featured panel discussions, presentations and case studies of successful trade finance transactions in Armenia by invited experts, banks and SMEs. The conference was regarded a success by all participants, and two persons from EBRD and Armeconombank spoke positively about the experience and current relationships between the bank and the country.

The EBRD Director for Financial Institutions in Central Asia, Mike Taylor, talked about the recent cooperation between EBRD and Armenian partners: ‘The EBRD remains a committed partner to Armenia, paying special attention to supporting local SMEs, which play a leading role in the development of the trade sector. We would like more companies to be fully aware of all the financing options available to them and be in a position to use those alternatives’.
Armen Naljyan, Chief Executive Officer at Armeconombank, one of the lead sponsors of the event, presented the achievements they had achieved together: ‘After the EBRD entered the Armenian market, it gave rise to loaning system, training courses for professionals, new connections and overall development of the field’.

European Union facilitating access to trade finance

The European Bank for Reconstruction and Development (EBRD) and the EU organised a trade finance conference on 1 October at Elite Plaza Business Centre. It was aimed at increasing awareness and facilitating better access to trade finance instruments for small- and medium-sized enterprises (SMEs) in Armenia. The 2-day event gave opportunity for international experts to discuss the perspectives and challenges faced by local entrepreneurs in accessing trade finance in Armenia. Head of the Cooperation Department of the EU Delegation in Armenia Hoa-Binh Adjemian spoke about the background of Armenia-EU cooperation: ‘The European Union has been one of the main donors for Armenia in recent years: we provided loans of approximately €50 million to develop the private sector. Currently, we are leveraging a €500 million worth programme in Armenia. After Armenia enters the [Eurasian] Customs Union, the EU will continue working with the private sector and help to develop the business climate. Various programmes implemented through EBRD have all been very fruitful; therefore, we will continue devising new ones’. The conference gathered together a number of high-profile speakers as well as representatives from local SMEs, commercial banks and various business associations, who discussed the current trends in trade finance and the development needs of this sector. It also featured panel discussions, presentations and case studies of successful trade finance transactions in Armenia by invited experts, banks and SMEs. The conference was regarded a success by all participants, and two persons from EBRD and Armeconombank spoke positively about the experience and current relationships between the bank and the country. The EBRD Director for Financial Institutions in Central Asia, Mike Taylor, talked about the recent cooperation between EBRD and Armenian partners: ‘The EBRD remains a committed partner to Armenia, paying special attention to supporting local SMEs, which play a leading role in the development of the trade sector. We would like more companies to be fully aware of all the financing options available to them and be in a position to use those alternatives’. Armen Naljyan, Chief Executive Officer at Armeconombank, one of the lead sponsors of the event, presented the achievements they had achieved together: ‘After the EBRD entered the Armenian market, it gave rise to loaning system, training courses for professionals, new connections and overall development of the field’.