BSTDB to hold its Annual Meeting events in Yerevan
Press Release | 21-Jun-2012
The Black Sea Trade and Development Bank (BSTDB) will hold its Annual Meeting of the Board of Governors in Yerevan on June 24, 2012.
The Board will meet to review the implementation of the Medium – Term Strategy and Business Plan for the period of 2011-2014, to discuss challenges the Bank is facing in the current environment of global uncertainties and to provide guidance on policy priorities and resource mobilization with a view to securing successful realization of the Bank’s developmental mandate in the region.
At a press conference held today, the BSTDB President Andrey Kondakov said that the Bank has committed over EUR 50 million in various sectors of the Armenian economy. The Bank confirmed its plans to double its investment exposure in the country by end 2014 by lending up to EUR 50 million to Armenian banks and businesses over the period. In the coming two years, BSTDB will focus on trade related activities and development of infrastructure and energy efficiency. The Bank intends to expand its ongoing support to Armenian small and medium enterprises (SMEs) by providing special credit lines through Armenian financial institutions. BSTDB will continue its close collaboration with other international financial institutions in order to enhance resource mobilization for additional investments for the country.
In the framework of the Annual Meeting, the Bank will organize a Business Forum titled “Armenia: Opportunities for Growth and International Experience”, in cooperation with the Central Bank of Armenia. The Forum will be inaugurated by Prime Minister Sargsyan. The Minister of Finance, the Minister of Economy and the Governor of the Central Bank of Armenia will present the country’s economic and investment priorities.
A report titled “International Finance Institutions and Development Through the Private Sector”, produced jointly by 31 international financial institutions will be presented during the Forum. Senior executives of international financial institutions and development banks will debate on the contribution of international financial institutions and the private sector in achieving sustainable growth, job creation and social cohesion.
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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. 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 SDR 3 billion (appx. EUR 3.3 billion). BSTDB is rated long-term A by Standard and Poor’s and A3 by Moody’s.