08 / April / 2026 : 13-17
Armeconombank and BSTDB Bolster Armenian SME Sector with New USD 20 Million Agreement
Armeconombank and the Black Sea Trade and Development Bank (BSTDB) signed a new USD 20 million facility agreement, deepening their long-standing cooperation. The facility will help small and medium-sized entrepreneurs across Armenia access vital financing, strengthen liquidity, and scale their operations.
“This facility is more than a financial instrument - it represents a strategic investment in Armenia’s economic future,” said Dr. Serhat Köksal, President of the Black Sea Trade and Development Bank. “By enabling AEB to scale up lending to small and medium-sized enterprises, we’re helping local businesses grow on solid footing, fostering innovation, supporting job creation, and strengthening long‑term economic resilience.” He added that the initiative “fully aligns with BSTDB’s strategy for Armenia and underscores a shared commitment to building a more dynamic and inclusive economy - one where entrepreneurs have the tools and confidence to thrive.”
“We would like to express our deep gratitude for the strategic cooperation between Armeconombank and BSTDB,” said Artak Arakelyan, CEO of Armeconombank. “This fifth SME Facility will allow our bank to on-lend the long-term financing with competitive conditions to local SME clients at this quite challenging time. We gratefully recall the business forum - “Armenia: Accelerating Regional Success” organized by BSTDB in Yerevan last year and the previous Loan Agreement solemnly signed within its framework. Throughout the years AEB has deepened its cooperation with international organizations, the evidence of which is the comprehensive partnership record with first class IFIs witnessed by the successful projects and the level of trust towards the Bank.”
Armeconombank’s cooperation with BSTDB began in 2007 and has since delivered five SME loan facilities totaling USD 60 million, supporting Armenian enterprises through multiple financing initiatives.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. 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. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.
86 86 | aeb.am
Armeconombank is supervised by the Central Bank of Armenia.
Viewed
888times
Recommended
24 / February / 2020
US 'locked and loaded' as oil prices surge after Saudi oil attack
The US reiterated its stance that Iran was behind Sunday's attacks on Saudi Arabian crude oil facilities, despite a claim from Houthi rebels that they launched the attack from Yemen.
The strikes...
29 / February / 2020
The Protocols Were Wrong to Begin With
BY ARA KHACHATOURIAN
President Serzh Sarkisian’s announcement Thursday declaring the Turkey-Armenia Protocols null and void is not cause for celebration, but rather yet another opportunity to...
29 / February / 2020
Sumgait Continues to Serve As a Blueprint for Baku’s Savagery
Warning: This post contains graphic images
BY ARA KHACHATOURIAN
In 1988, it was unimaginable that in the latter days of the 20th century Armenians would experience the same savage carnage that...
28 / February / 2020
Slogan of La Francophonie Summit in Yerevan is “Living Together”
YEREVAN.- Armenian Foreign Minister Edward Nalbandian talked on Friday about preparations for the 2018 International Organization of La Francophonie (OIF) Summit, sessions of other statutory bodies...
15 / March / 2020
Ian Goldin: Coronavirus will hit economy like 2008 crash
Six years ago globalisation and development expert Ian Goldin predicted that the next economic crash would be caused by a pandemic.
Mr Goldin told Hardtalk's Zeinab Badawi that the economic effects...
15 / March / 2020
Coronavirus updates live: Hoboken, New Jerse, mayor orders curfew
People gather on a cafe terrace in Lyon, France, after it was announced Saturday that all non-essential public places, including restaurants and cafes, would be closed at midnight.
President Donald...
17 / March / 2020
Coronavirus: Macron announces French lockdown to stop spread of COVID-19
President Emmanuel Macron criticised French people who had not taken restrictions on movement seriously and announced a range of further public health measures to stop the spread of COVID-19.
In a...
23 / March / 2020
Punishing sanctions against Iran are turning the coronavirus pandemic into a massacre
Coronavirus is a crisis. In Iran, it’s a massacre - because of Trump’s sanctions. Even before COVID-19, these sanctions were recognised by Human Rights Watch as undermining access to...