YEREVAN, November 5. /ARKA/. The chairman of the Central Bank of Armenia (CBA) Artur Javadyan discussed current projects and future prospects for bilateral cooperation with the president of the Black Sear Trade and Development Bank (BSTDB) Ihsan Ugur Delikanli in Yerevan on Tuesday, the CBA press office reported.
Javadyan appreciated the cooperation between the BSTDB and Armenia’s banking system in funding key projects and economy branches in particular.
The BSTDB displays flexibility in financing key sectors, like agriculture, real estate and small businesses, he said.
Javadyan stressed the importance of loan agreement on SME financing signed between the BSTDB and one of the Armenian banks on Tuesday.
Earlier reports said the BSTDB provided $10 million loan to Armenia’s Ardshininvestbank for lending to small and midsized enterprises (SME).
Delikanli, in his turn, said the BSTDB has been always focused on Armenia in its regional projects.
“Having in mind that programs with Armenia have been successfully implemented so far, the bank expresses its readiness to discuss further cooperation and projects of mutual interest with its Armenian colleagues”, Delinkanli said.
During the meeting, Javadyan briefed his colleague on central bank’s financial system regulation policy and key performance indicators.
The sides discussed also investment and infrastructure projects that the BSTDB may contribute to.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.
The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s.
Since its foundation in 1999, the BSTDB has provided a total of 120 million euros in loan to Armenia, mainly aiming at SME development. –0–
