Armenian President Serzh Sargsyan held a meeting Oct. 26 with Andrey Kondakov, President of the Black Sea Trade and Development Bank (BSTDB).

The RA presidential press office informed NEWS.am that the Armenian leader pointed out Armenia has all the favorable conditions for the bank’s activities. President Serzh Sargsyan welcomed the BSTDB’s activities aimed at financing the real economic sector. He pointed out the importance of available funds.

Mr. Kondakov informed the Armenian President of the bank’s achievements over the recent 11 years, as well as of further development programs. He commended Armenia’s active involvement in replenishing the bank’s capital. It is greatly appreciated political support, Kondakov said. According to him, capital replenishment enables the bank to expand its activities and present new economic development projects for the member-states.

The sides discussed the bank’s larger-scale involvement in the Armenian economy, as well as new ideas.