BSTDB plans to provide loans to three Armenian banks

PanARMENIAN.Net - President of the Black Sea Trade and Development Bank (BSTDB) Andrey Kondakov said that, in addition to project and corporate financing, the bank is interested in participating in various enterprises capital.

The bank products allow participation in a capital both directly and through participation in investment funds, Kondakov said in Yerevan on October 26, answering a question on the bank plans on participation in capitals of promising enterprises of Armenia.

He added that negotiations are held with a fund, which views the possibility of launching activities in the Caucasian region. Kondakov stressed that names of companies and funds will remain confidential, unless agreements are signed with them.

The BSTDB President said that the bank is going to provide loans to three Armenian banks. In Armenia, the BSTDB cooperates with ACBA-Credit Agricole Bank CJSC, Inecobank CJSC and Armeconombank OJSC. During a press conference in Yerevan, Andrey Kondakov did not exclude the possibility of the bank’s cooperation with Ardshininvestbank CJSC shortly. Besides, interesting projects are considered in the food industry and real estate field.

Armenian Deputy Minister of Finance Vardan Aramyan noted for his part that the BSTDB basically facilitates economic development of the countries-shareholders, specifically, it protects interests of small shareholders, providing huger funds to them. The Deputy Minister noted that the Armenian government pursues a strategy aimed at its economy diversification, with focus on financing export-oriented fields. Aramyan noted that the priorities will be reflected also in cooperation with the bank.