OREANDA-NEWS. October 01, 2013. Inecobank signed a 5 mln USD loan agreement with BSTDB. These funds will be directed to small and medium enterprises financing which is a strategic direction for Inecobank.

“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 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. I am glad to assert that this new loan agreement is a result of lasting cooperation and a new step towards efficient partnership in the future,” said Avetis Baloyan, Chief Executive Director of Inecobank.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution supporting 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 BSTDB headquarters are in Thessaloniki, Greece.