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    toArdshininvestbank*

    by Karina Melikyan

    Tuesday, November 4, 17:54

    The Black Sea Trade and Development Bank (BSTDB) is providing a USD 10
    million loan to Ardshininvestbank (ASHIB), a leading bank in Armenia,
    to facilitate financing of Armenian small- and medium-sized
    enterprises (SMEs), reports the BSTDB's External Relations and
    Communications Department

    "This is the second operation between Ardshininvestbank and BSTDB,
    which speaks of the mutual trust established between our institutions.
    The proceeds of the new loan will be channeled to the financing of
    local SMEs as ASHIB's target group of customers. ASHIB will continue
    its strategy of contributing to the fostering of the SME sector in the
    Republic of Armenia by providing long-term loans on competitive
    terms", said Mher Grigoryan, Chairman of the Management Board of
    Ardshininvestbank.

    "Supporting small- and medium-sized enterprises is BSTDB's strategic
    priority in Armenia agreed with the Government. The new facility will
    enhance the competitiveness of Armenian SMEs in the current economic
    setting when access to finance remains constrained", said Ihsan Ugur
    Delikanli, BSTDB President, at the loan signing ceremony in Yerevan.

    The operation builds up on the successful cooperation between the two
    banks that started in 2012, when BSTDB extended a loan for mortgage
    financing. The total funding provided by BSTDB to ASHIB will amount to
    USD 18 million.

    Since the start of its operations in 1999, BSTDB has cumulatively
    disbursed EUR 120 million in Armenia, largely focused on SME sector
    development.

    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. For
    information on BSTDB, visit www.bstdb.org.

    Established in 2002, Ardshininvestbank is one of the leading banks in
    Armenia and has a large distribution network with over 55 branches all
    over the country and a strong SME customer base.

    http://www.arminfo.am/index.cfm?objectid=7AEC81E0-6432-11E4-A9E60EB7C0D21663



    From: Emil Lazarian | Ararat NewsPress
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