“SME Investments”

VEB and the Development Institute of Armenia “SME Investments” have identified key areas of bilateral cooperation: industry, transport, innovation, IT industry and telecommunications. The relevant memorandum was signed by the parties in Moscow on November 15, 2017. The document was signed by First Deputy Chairman of Vnesheconombank – Board Member Nikolai Tsekhomsky and Executive Director of “SME Investments” Arthur Badalyan.

VEB and SME Investments have agreed on cooperation in the sphere of supporting and financing Russian exports and expanding investment in key areas of cooperation between the two states. The parties will study the possibility of Vnesheconombank’s opening a credit line for SME Investments to finance projects for the export of Russian-made products.
Vnesheconombank will also share experience and advise SME Investments in the process of establishing this organization as a national development institution.

“Russia and Armenia have a rich history of mutually beneficial partnership, and the Memorandum signed today will open new opportunities for cooperation between the development institutions of the two countries, which will promote the growth of trade turnover, expansion of investments and production cooperation in key sectors of the economy. This is an important step both for our bilateral cooperation and within the framework of integration processes in the EAEC area,” Nikolai Tsekhomsky noted.
“We are interested in Vnesheconombank’s experience, strategy and business model as a national development institution. “SME Investments” plays an important role in stimulating the growth of the Armenian economy, and soon our organization will become a member of the Council of Development Banks of the EAEC. We are ready to interact with VEB and other members of the Council in the selection, examination and implementation of joint projects, ” said Arthur Badalyan.