BSTDB TO FINANCE UP TO 7 PROJECTS AT AMOUNT OF 50 MLN EUROS IN ARMENIA

PanARMENIAN.Net
March 24, 2011 – 12:35 AMT 08:35 GMT

The Black Sea Trade and Development Bank (BSTDB) and Armenian
government are negotiating the possibility of financing of up to 7
projects at the amount of 50 mln euros in 2011-2014.

“The matter concerns doubling of the investment portfolio, which
currently totals 51 million euros,” BSTDB president Andrey Kondakov
told journalists in Yerevan on March 24.

The BSTDB also intends to expand cooperation with Armenian banks,
bringing the amount of financing to 4-8 million euros. Besides, a
major project is supposed to be implemented in the real estate sector.

From: A. Papazian