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Black Sea Trade And Development Bank Provides 5 Million Dollar Credi

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  • Black Sea Trade And Development Bank Provides 5 Million Dollar Credi

    BLACK SEA TRADE AND DEVELOPMENT BANK PROVIDES 5 MILLION DOLLAR CREDIT TO ARMECONOMBANK

    Noyan Tapan
    Feb 12, 2008

    YEREVAN, FEBRUARY 12, NOYAN TAPAN. The Black Sea Trade and
    Development Bank (BSTDB) has provided a 5 million dollar credit to
    Armeconombank. The credit agreement was signed on February 12. NT
    correspondent was informed by Armeconombank that these resources
    will be used for crediting small and medium enterprises in Armenia,
    particularly, companies engaged in production, trade and service
    sectors.

    According to the same source, crediting will be done by the
    BSTDB-developed and established procedures and standards of credit
    provision to small and medium enterprises. Based on it, Armeconombank
    will receive credits for 5 years. The minimum amount of a credit for
    a borrower will make 400 thousand dollars.

    As of January 1, 2008, the overall capital of Armeconombank exceeded
    8.47 bln drams (about 27.3 mln USD). Its overall assets make over
    50.4 bln drams, the net profit in 2007 amounted to 1.88 bln drams. The
    bank has 45 branches in Armenia and Artsakh.
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