BSBTD TO ALLOCATE MONEY FOR FINANCING PROJECTS IN PRIVATE SECTOR OF ARMENIA

/ARKA/
June 21, 2011
YEREVAN

YEREVAN. June 21. /ARKA/. Black Sea Bank of Trade and Development
(BSBTD) and French Institute of Financial Development “Proparco”
signed a credit agreement of 20 million euro for financing projects
in the Black Sea region, including Armenia.

In the frames of the agreement, the Institute will allocate credit
to BSBTD for 10 years.

Credit will be targeted at financing the projects in the private
sector of such countries as Armenia, Albania, Azerbaijan, Georgia,
Moldova, Turkey and Ukraine.

Priority sectors of financing are: renewed sources of energy,
micro-financing, healthcare, education, agriculture, industry and
tourism.

Black Sea Bank of Trade and Development (BSBTD) is an international
NGO having a status of a body related to the organization of Black
Sea economic cooperation. The shares of Russian Federation, Greece and
Turkey in it are 16.5%, Romania – 14%, Bulgaria and Ukraine – 13.5%,
Azerbaijan – 5%, Albania – 2%, Armenia and Moldova – 1 % and Georgia –
0.5% of charter capital.

PROPARCO is an institute of development organized by French Development
Agency (AFD) and state and private investors of North and South. Its
mission is to promote the flow of investments in new and developing
countries with the purpose of supporting growth, stable development
and achievements of millennium goals. (~@1- 373.81 drams).