OREANDA-NEWS. The Black Sea Trade and Development Bank (BSTDB) provided a USD 5 million SME credit line to Inecobank (Armenia). The facility will respond to the growing demand for medium-term funding of Armenian small- and medium-sized enterprises (SMEs). 

“We are pleased to strengthen further our cooperation with Inecobank, a reliable partner and a market leader in SME financing in Armenia. Through this partnership, BSTDB supports an increasing number of dynamic SMEs and contributes to the private sector business development by offering easier access to capital resources” said Andrey Kondakov, BSTDB President.

“Inecobank has been closely cooperating with BSTDB since 2007. This new loan agreement is a result of a productive partnership and a step towards increased future collaboration.” - says Avetis Baloyan, Chief Executive Director of Inecobank.

This is the second credit line that BSTDB extends to Inecobank for SME financing, bringing the total amount to USD 8 million.