BSTDB, EBRD and VTB Armenia Help to Start a Modern Meat Processing Plant in Armenia
Press Release | 16-Feb-2013
On February 16, 2013, the “state of the art” meat processing plant of NatFood company was officially opened in Yerevan in the presence of H.E. Serzh Sargsyan, President of Armenia.
The plant, equipped with modern machinery and technologies, will produce a variety of high quality meat products for the local and export markets. The NatFood plant will help boost competitiveness of the meat processing industry and create additional jobs in the country.
The plant opening became possible thanks to constructive cooperation between the Black Sea Trade and Development Bank (BSTDB), the European Bank for Reconstruction and Development (EBRD) and VTB Bank (Armenia), which made available additional financing and restructured previously provided loans to JSC Natfood. The Armenian authorities have extended continuous support to the project.
************
JSC Natfood is a private meat-processing company partially owned by Mr. Henrikh Zakharyantz, a prominent Armenian businessman. EBRD has a minority stake in the company.
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 SDR 3 billion (appx. EUR 3.5 billion). BSTDB is rated long-term “A-” by Standard and Poor’s and “A3” by Moody’s. www.bstdb.org
European Bank for Reconstruction and Development (EBRD), owned by 64 countries and two intergovernmental institutions, is an international financial institution that supports projects from central Europe to central Asia and beyond. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank fosters transition towards market economies. The EBRD has been active in Armenia since the country’s independence and to date has invested over €613 million. Follow us on the Facebook and Twitter or visit www.ebrd.com
VTB Bank (Armenia) CJSC became a member of VTB international financial group in April 2004. Russian VTB Bank OJSC owns 100% shares of VTB Bank (Armenia). The Bank is traditionally in the list of leaders in the banking system of Armenia on a number of key indicators. The Bank has the largest branch network in the country - 67 branches.
BSTDB Press Contact
Haroula Christodoulou
Tel: +30 2310 290533
EBRD Press Contact
Loretta Martikian
Tel: +995577221120
VTB Bank Armenia
Press Contact
Lali Svimonia
Tel: +37494213848