By Sona Gevorgian

YEREVAN, June 21 – The Black Sea Trade and Development Bank (BSTDB) extends to Armenian banks and business organizations around 50 million Euros till 2014, stated the President of the Bank Andrei Kondakov during a press-conference.

According to Kondakov, BSTDB has invested about 50 million Euros in different spheres of the Armenian economy starting from the day of its foundation till now.

Commercial activities, infrastructure and development of energetic industry will be at focuse for the first two years, said Kondakov adding that the Bank is going to expand its permanent support to small and medium enterprises in the Republic of Armenia.

«Republic of Armenia with 3.7 percent share is one of the founder countries of the Bank», said the Deputy Minister of Finance of Armenia Vardan Aramian adding that the cooperation with the bank contributes to the economics reforms being implemented in the country.

According to the press-release of Central Bank of Armenia a forum on Armenia`s business opportunities will kick off on June 22 and the 14th meeting of BSTDB managers will be held on June 24 in the framework of which several agreements are to be signed.

According to Kondakov the event wil brought together the representatives of international financial institutions inlcuding European Bank for Reconstruction and Development, European Investment Bank, International Finance Corporation, Nordic Investment Bank, French Development Agency, the Austrian Development Bank and Russia`s Vnesheconombank. The Bank`s aspirations are to develop trade relations in the region, assist implementation of international projects and expand foreign investment.

Yerevan Report