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BSTDB expands the financing of SME sector in Armenia

BSTDB and ACBA-CREDIT AGRICOLE BANK have signed a new 10 MM USD loan agreement which funds will be directed at the development of SMEs sector in Armenia. ACBA-CREDIT AGRICOLE BANK will use the four-year loan to finance special projects and investment programs in order to create opportunities to expand and modernize the SME and agricultural sectors of Armenia. “We highly value the long-term cooperation with BSTDB, which gives us opportunity to increase the volumes of financing the SME sector. This agreement allows to support a number of enterprises fostering the creation of new workplaces”- said the Chief executive officer of ACBA-CREDIT AGRICOLE BANK Hakob Andreasyan”.

“This, already fourth loan agreement with ACBA-CREDIT AGRICOLE BANK will expand the opportunities of long-term financing of small Armenian enterprises. It will promote the development of SME sector, which is the primary strategic goal of BSTDB in Armenia. This cooperation will allow creating additional income and will have a more positive effect” – said the president of BSTDB I. Delikani. From 2006, BSTDB, in cooperation with ACBA-CREDIT AGRICOLE bank, have implemented a number of transactions regarding trade and SME financing in the amount of 33 MM USD in total. From the beginning of its activity in 1999, the total financial support from BSTDB to the SME sector in Armenia through the local banks has amounted nearly 100 MM Euros.

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