Black Sea Trade and Development Bank (BSTDB) granted FINCA UCO CJSC the first tranche of USD 5mln loan – USD 3mln, and the rest will be granted in upcoming months.

FINCA and the Black Sea Bank started cooperating in May, 2014 with the aim to support Armenian small and medium enterprises through micro-financing within the program.

According to FINCA UCO CJSC General Director Hrachya Tokhmakhyan, FINCA continues to combat poverty and ensure stable development for Armenian entrepreneurs with low income. He said that FINCA possesses all relevant environmental and social risk management tools related to micro-financing.

FINCA is the subsidiary of “FINCA Microfinance Holding Company” LLC owned by “FINCA International” LLC.