For the first time, the European Fund for Southeast Europe /http:www.efse.lu/ is providing a loan to the financial sector of Armenia. On June 9, 2010, at the Annual General Meeting of EFSE held in Ohrid, Macedonia, "Converse Bank" CJSC and EFSE signed the Agreement on a Lending Project for the amount of USD 10 million. On behalf of EFSE the Agreement was signed by Marc Schublin, Board Member of the Fund, on behalf of "Converse Bank" - by Tigran Davtyan, Executive Director of the Bank.

The loan is provided for a period of 5 years and is intended for financing of development of small and medium business.

"Loans will be provided to enterprises and sole entrepreneurs engaged in the field of trade, service, industry, manufacture and processing of agricultural products, etc.,"- Tigran Davtyan said.

"Converse Bank" provides financing to small and medium business activity, including the agricultural field, in all marzes of the republic.