BSTDB Renews Commitment to Armenian SMEs with New USD 20 Million Facility to ARMECONOMBANK
Press Release | 08-Apr-2026
Fifth facility to boost employment, growth, and economic resilience in Armenia
The Black Sea Trade and Development Bank (BSTDB) has deepened its long-standing cooperation with ARMECONOMBANK OJSC (AEB), signing a new USD 20 million facility aimed at bolstering small and medium-sized enterprises across Armenia.
The fifth SME facility to AEB — signals a reinforced push to get capital injections to small and medium-sized businesses, long seen as the engine of Armenia’s economic resilience. Through AEB, the funds will help small and medium-sized entrepreneurs secure much‑needed credit, strengthen liquidity, and scale their operations.
This facility is expected to generate favourable economic benefits for the Armenian economy, including additional tax revenues, higher employment levels, and growth in both economic activity and trade turnovers.
“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.”
BSTDB’s partnership with ARMECONOMBANK began in 2007 and has since evolved into a strong and results-driven partnership, supporting Armenian enterprises through multiple financing initiatives.
ARMECONOMBANK OJSC is one of the oldest universal commercial banks in Armenia, focusing on SME and retail business development. Being in the top 10 Armenian banks, it is represented in all regions of the country through a network of 53 branches. ARMECONOMBANK is rated by Moody’s Investors Service and Fitch Ratings. Detailed information at: www.aeb.am
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.
