BSTDB and Izmirlian Foundation Joint Finance Facility (JFF) Supports SME Sector Development in ARMENIA

Press Release | 06-Jun-2005

The Black Sea Trade and Development Bank (BSTDB) and the Izmirlian Foundation Joint Finance Facility (JFF) will extend two 5-year USD 425.000 and 500.000 loans to OVAL Ltd. and Valletta Ltd. respectively.

The above financings will support the companies’ modernization and expansion programme and will further facilitate them in maintaining leading positions in the local market.

OVAL Ltd. is Armenia’s leading manufacturer of polymer packages for food products, mainly for dairy industry. The company production facilities and office space are situated nearby Yerevan.

VALLETTA Ltd. is an Armenian company involved into manifold sectors of economy. Valletta mainly operates in Armenia where 97% of sales are being realized. The company also conducts business in Georgia and Russia.