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Economic News (Information Agency Oreanda), Russia
August 20, 2012 Monday
BSTDB Contributes to Recovery of Meat Producer in Armenia
Yerevan. OREANDA-NEWS . August 20, 2012. The Black Sea Trade and
Development Bank (BSTDB) has restructured its USD 7 million loan to
JSC Natfood signed in April 2008 and committed to provide additional
working capital facility to the Company in the amount of up to USD 1.4
million. The restructuring would allow the Company to complete
installing modern meat processing lines and to start producing high
quality meat products for the Armenian market and for export. The
restructured facility also involves the European Bank for
Reconstruction and Development (EBRD) and VTB-Armenia.
BSTDB is committed to supportingsmall and medium sized
businessesessential for Armenia s sustainable growth, job creation and
competitiveness. The agreed loan restructuring and additional
financing will enable Natfood to successfully complete the project
soon. Constructive cooperation with EBRD and VTB-Armenia was
instrumental in achieving a mutually acceptable solution, said Andrey
Kondakov, BSTDB President signing the agreement in Yerevan .
"BSTDB, along with EBRD and VTB-Armenia, are helping Natfood to go
through a challenging period. We are confident that this investment
will prove beneficial both for the banks and for our business said
Henrikh Zakharyantz, Natfood CEO and majority shareholder.
JSC Natfoodis a private meat-processing company partially owned by
EBRD and Mr. Henrikh Zakharyantz, prominent Armenian businessman
engaged in food processing business and trade. Natfood factory is a
new facility equipped with a state-of-the-art machinery and modern
technology.
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 is 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 SDR 3 billion (appx.
EUR 3.5 billion). BSTDB is rated long-term A by Standard and Poors and
A3 by Moodys.
August 20, 2012 Monday
BSTDB Contributes to Recovery of Meat Producer in Armenia
Yerevan. OREANDA-NEWS . August 20, 2012. The Black Sea Trade and
Development Bank (BSTDB) has restructured its USD 7 million loan to
JSC Natfood signed in April 2008 and committed to provide additional
working capital facility to the Company in the amount of up to USD 1.4
million. The restructuring would allow the Company to complete
installing modern meat processing lines and to start producing high
quality meat products for the Armenian market and for export. The
restructured facility also involves the European Bank for
Reconstruction and Development (EBRD) and VTB-Armenia.
BSTDB is committed to supportingsmall and medium sized
businessesessential for Armenia s sustainable growth, job creation and
competitiveness. The agreed loan restructuring and additional
financing will enable Natfood to successfully complete the project
soon. Constructive cooperation with EBRD and VTB-Armenia was
instrumental in achieving a mutually acceptable solution, said Andrey
Kondakov, BSTDB President signing the agreement in Yerevan .
"BSTDB, along with EBRD and VTB-Armenia, are helping Natfood to go
through a challenging period. We are confident that this investment
will prove beneficial both for the banks and for our business said
Henrikh Zakharyantz, Natfood CEO and majority shareholder.
JSC Natfoodis a private meat-processing company partially owned by
EBRD and Mr. Henrikh Zakharyantz, prominent Armenian businessman
engaged in food processing business and trade. Natfood factory is a
new facility equipped with a state-of-the-art machinery and modern
technology.
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 is 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 SDR 3 billion (appx.
EUR 3.5 billion). BSTDB is rated long-term A by Standard and Poors and
A3 by Moodys.