Tweet
Black Sea Trade and Development Bank provides a USD 10 million loan to
Ardshininvestbank
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
Ardshininvestbank
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