The Black Sea Trade and Development Bank (BSTDB) and Ameriabank have signed a USD 15 million, five year loan agreement.

Ameriabank notes the agreement aims to fuel the growth of Armenian small and medium-sized businesses (SME), the backbone of the Armenian economy.

“Support for SME sector development is a common objective and key priority for both banks. The facility will help Ameriabank to offer the much needed long-term financing to Armenian SMEs to strengthen their growth, competitiveness and create new jobs in the country,” reads the statement from the bank.

“Ameriabank is honored to continue developing its valuable partnership with BSTDB. This new agreement will help the bank to further strengthen its position in the SME lending market, and to magnify its contribution to the development of the country’s economy,” said Artak Hanesyan, CEO, Ameriabank.

“This is BSTDB’s second SME facility to Ameriabank. We are happy to develop further our cooperation with this market leader in implementing our country strategy for Armenia aimed at increasing the bank’s support for the economy, SME sector in particular,” commented Igor Leshukov, BSTDB Vice President Banking.