Hot Line +37410 511 211

Short-Term Financing

Short-term, revolving loans (RCA – Revolving Credit Agreements) provided within the Trade Facilitation Program of the European Bank of Reconstruction and Development (EBRD)

Converse Bank can provide short-term, revolving trade related loans under the Trade Facilitation Program (TFP) of the European Bank of Reconstruction and Development (EBRD) for the financing of foreign trade contracts.


Under this program, Converse Bank provides short-term loans for the financing of foreign trade on very competitive terms. The importer of foreign goods approaches Converse Bank and agrees upon the conditions of financing. Then, the transaction is presented to the EBRD for approval under the program. 

The approval of EBRD takes a few business days. After the final decision of Converse Bank’s credit committee, the Bank signs a loan agreement, security agreements and other documents with the borrower. When all the conditions of the utilization of the loan are fulfilled, Converse Bank applies to EBRD for the respective funding and after receipt of such funding, provides a loan to its client (a sub-borrower).

The purpose of loan provision is agreed upon between the parties beforehand (mainly for payment for imported goods).

The Cost of Financing

The interest rates under short-term, revolving loans provided within the framework of the TFP program of EBRD are the most attractive interest rates among all other sources of financing currently available in Armenia.
EBRD, as an international development institution with a AAA rating, provides financing to the borrowers on the basis of international interest rates for first class borrowers (LIBOR and EURIBOR), which gives Converse Bank the opportunity to substantially improve the conditions of of the financing to its clients.

The main conditions of financing and requirements to borrowers:

  • The maximum tenor of financing: 1 year.
  • Financing is done in major international currencies -- USD and EURO.
  • Signed (or planned to be signed) commercial contract regarding services and goods imported to Armenia or exported from Armenia.
  • Presentation of documents to Converse Bank, proving the import of goods to Armenia or export of goods from Armenia, as well as the respective payments made (invoices, transport documents, customs documents, certificates of origin and quality, and so on).
  • The European Bank of Reconstruction and Development (EBRD) does not provide financing for the export and import of goods and services banned by the EBRD Environmental and Social Exclusion List.

Contact details
For more information in relation to Trade Finance and/or Documentary operations please contact:

Nelli Kocharyan
Head of International Relations and Trade Finance Division
Tel: +374 10 511 250

Vahe Grigoryan 

International Relations and Trade Finance Division, Specialist

Tel: +374 10 511 226