BSTDB loan boosts support for Armenian SMEs

Region:

Europe

The Black Sea Trade and Development Bank (BSTDB) has provided a $10 million SME loan facility to the Armenian Economy Development Bank (Armeconombank).

Aram Khachatryan, CEO of Armeconombank, said: "Armeconombank will use the BSTDB facility to fund its sub-loans to Armenian small and medium-sized companies to finance projects and investment programs. Financing of the SME sector from proceeds of the loans facilities attracted from IFIs is under constant focus of Armeconombank."

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