Ardshininvestbank has financed the import of first set of agricultural machinery manufactured by John Deere International GmbH – the world’s leading manufacturer of agricultural and road construction equipment.
The financing has been provided by issuance of documentary letter of credit which has been post-financed for 5 years by German Landesbank Baden-Wurttemberg (LBBW) against German export insurance agency Euler Hermes Deutschland AG coverage.
The delivery of agricultural machinery is due by spring of 2013, the entire financing totaling about €1.4mln.
The agricultural machinery to be imported has high productivity parameters and will be provided to Bank’s existing and potential clients through long-term leasing conditions.
During the project realization, the bank has strongly collaborated with “CARD AGROSERVICE” CJSC – the John Deere’s official representative in Armenia.
John Deere has been named a Thomson Reuters 2012 top 100 Global Innovator.