BSTDB supports the expansion of a retail chain in Armenia

News | 17-Jan-2008

BSTDB provided a USD 7.6 million secured term loan to “SAS Group LLC”. BSTDB’s funds will be used to support the company’s expansion program, which involves the opening of 3 new supermarkets in Yerevan.

BSTDB’s facility will contribute to the development of the food distribution sector, an important element of infrastructure of national economy. It is expected to produce positive effect on standards of living in Armenia, its agribusiness sector, to contribute to the creation of new jobs and promote economic co-operation and trade among several countries of the Black Sea Region.

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SAS Group LLC is one of the three leading supermarket chains operating in Armenia. Currently the company operates 3 supermarkets which are all situated in prime locations in the central districts of Yerevan.

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 is in Thessaloniki, Greece. With an authorized capital of SDR 1 billion (approx. US$ 1,45 billion), the Bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects in the public and private sectors in its member countries.