Armenia has joined the process of replenishing the authorized capital of the Black Sea Trade and Development Bank (BSTDB). The relevant decision was made at the Cabinet meeting of the Armenian government on Thursday.

As one of the founders of BSTDB, Armenia is additionally subscribing to 7,136 shares (8,206,400 euros), which is 1.01 percent of the total shares. As a result, Armenia's share will reach 27,136 shares, and the subscribed capital will reach 31,206,400 euros.

By December 31, 2026, an interest-free promissory note in the amount of 30 percent of this amount (2,461,920 euros) must be issued, which is subject to cashing in eight equal installments between 2027 and 2034. Thus, Armenia will pay 307,740 euros per year. The required amount can be paid in cash also instead of issuing promissory notes.

The remaining 70 percent of the aforesaid amount is payable on demand.

To ensure the payment of the additional tranche, BSTDB member countries must complete the necessary national procedures by December 31, 2026. This obligation can be fulfilled either by issuing promissory notes or by paying in cash.