Armenian President Serzh Sargsyan received President of the Black Sea Trade and Development Bank (BSTDB) Andrey Kondakov.

Congratulating the BSTDB President on his appointment, Serzh Sargsyan said he believes that Armenia’s cooperation with the bank will continue expanding. The Armenian leader noted that there are all possibilities for the bank’s active operation in Armenia. Besides, Mr. Sargsyan hailed the bank’s activity on financing economy's real sector, attaching importance to the availability of provided funds, the RA presidential press service reported.

Andrey Kondakov briefed the Armenian President on the bank’s achievements during its 11-year activity and programs of further development. He estimated highly Armenia’s activity, as a shareholder of the bank, participation in the BSTDB capital, labeling them as political assistance of special importance. Kondakov noted that increase in the bank capital will allow expanding the BSTDB activities and offering new projects, which will facilitate the country’s economic development.

The parties also discussed programs and new ideas on expanding the bank’s participation in Armenia’s economy.