SME support program financed by KfW

The objective of the SME support Programs implemented by GAF is to develop the financial sector and SMEs in Armenia, in particular by providing the necessary funding to the RA commercial banks and universal credit organizations in order to make lending to micro, small and medium size private enterprises efficient and profitable. This is supported by introducing new loan technologies in partner banks and organizing the teaching and training of qualified loan experts.
Since 1999, KfW has allotted the Central Bank a total of EUR 16.8 million in loans under four agreements and a total of EUR 2.2 million in grants under three agreements (GAF-MSME-KfW). The loan agreement was concluded at an annual interest rate of 0.75% with a repayment period of 40 years, including 10 years of grace period.

Partner financial institutions

acba  idbank aeb
conversebank inecobank

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