Converse Bank WiB Loan (EBRD-50166)

  • Armenia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 21, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Converse Bank CJSC
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 3, 2020

Disclosed by Bank Jan 20, 2020

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Project Description

According to the Bank's website, this project finances onlending to women-led micro, small and medium-sized enterprises. 

This loan will be followed by the development of sustainable credit mechanisms targeted at women-led micro, small and medium-sized enterprises through technical assistance to Converse Bank and technical support for women-led micro, small and medium-sized enterprises. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Financial Intermediary
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds.
Private Actors
Private Actors Description

Converse Bank CJSC is an established dynamically growing bank, which offers various services to individuals and legal entities. Among 17 banks in Armenia, Converse Banks ranks the 6th by three indicators: total assets (5.6% market share), loan portfolio (6.2% market share) and customer deposits (6.5% market share) as of 3Q 2019.

Converse Bank CJSC is ultimately owned by Mr. Eduardo Eurnekian, an Argentine businessman with Armenian roots.

Contact Information

Company Contact 

Grant Akopian 
+374 10511211 ext 1373
+374 10 511212 
Head office 0010, Yerevan, 26/1, Vazgen Sargsyan


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