YEREVAN. – Ardshinbank and Black Sea Trade and Development Bank (BSTDB) signed the third loan agreement.

Under the agreement, further USD 10 million will be channeled to support small-and medium-sized enterprises (SMEs) in Armenia.

The SME is a very important sector for the development of the economy, export and job creation in Armenia. Thus, Ardshinbank will continue implementing its strategy to ensure available finance for SMEs. Under the project the bank will extend loans to its SME customers with rates starting from 11%.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by eleven countries of the Black See region. The BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries.

Ardshinbank is among the leaders of the banking system of Armenia and has one of the broad sales network comprising of 55 branches. Ardshinbank is the only private entity in Armenia that issued Eurobonds in the international financial markets and has ratings from two international major rating agencies (Moody’s and Fitch) equal to the rating of Sovereign.