BSTDB grants € 23 million loan to Ameriabank to boost SME financing in Armenia
YREVAN, JUNE 2, ARMENPRESS. The Black Sea Trade and Development Bank (BSTDB) is providing a five-year € 23 million loan to Ameriabank to expand access to finance for Armenian small and medium enterprises (SMEs).
BSTDB financing will support the liquidity and working capital needs of industrial and agricultural SMEs, promote exports and facilitate private sector growth and employment in Armenia.
“We are delighted to further strengthen our established cooperation with Ameriabank – a market leader in Armenia and trusted partner of BSTDB since 2014. Through our successful partnership, we have been able to reach many SMEs in the country and inject a total of USD 25 million, which otherwise we could not have done directly. Our new funding is part of BSTDB’s continued efforts to help combat the impact of the coronavirus and support the post-pandemic recovery of the Armenian economy and we are proud that it comes at a time when development support is at its greatest. necessary, ”said Dmitry Pankin, BSTDB Chairman.
“We are pleased that our long-standing effective cooperation with the Black Sea Trade and Development Bank has enabled us to implement a number of successful projects. The attracted funds give us the opportunity to provide long-term financing to small and medium-sized enterprises operating in Armenia, thus contributing to the development of the sector and improving the competitiveness and strengthening the position of SMEs in the target markets. This is the third loan instrument granted to Ameriabank by the Black Sea Trade and Development Bank for SME financing. We hope that the cooperation between BSTDB and Ameriabank will be continuous, as the implementation of targeted support projects developed for the SME sector is one of the most important directions both for our partners and for us ”, said Artak Hanesyan, CEO of Ameriabank.
The new loan to Ameriabank will bring BSTDB’s total support to the development of the SME sector in Armenia to more than $ 100 million through local financial institutions. Ameriabank CJSC Ameriabank is a dynamic developing bank and one of the most stable and important financial institutions in Armenia.
Ameriabank CJSC is a universal bank providing corporate, investment and retail services in a comprehensive package of banking solutions. Based on the 2020 results, Ameriabank is the leader of the Armenian banking sector by its financial indicators (assets, liabilities, loan portfolio, capital). The main activities are collecting and maintaining accounts, lending, issuing guarantees, treasury and settlement transactions, securities transactions and foreign exchange transactions. For more information, visit www.ameriabank.am or call (+37410) 56 11 11.
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 headquarters of the BSTDB are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, lines of credit, equity and guarantees for projects and commercial finance in the public and private sectors of its member countries. The authorized capital of the Bank is 3.45 billion euros. BSTDB has a long-term rating of “A-” by Standard and Poor’s, “A2” by Moody’s and “A +” by the Russian rating agency ACRA. For more information about BSTDB, visit www.bstdb.org or send an email to: [email protected]