The Black Sea Trade and Development Bank (BSTDB) is considering possibility of granting credits to five Armenian banks, BSTDB President Andrey Kondakov said in Yerevan.

According to him, financing of these banks may reach € 4-8 million. Presently the bank is financing 10 projects in Armenia estimated at € 50 million.

The Black Sea Trade and Development Bank (BSTDB) was established by the founding 11 member countries of the Black Sea Economic Cooperation (BSEC) - Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine as a regional multilateral development bank and financial pillar of BSEC. Armenia’s share constitutes 1%.