YEREVAN, FEBRUARY 10, ARMENPRESS. President of the Black Sea Trade and Development Bank (BSTDB) Dmitry Pankin considers the current stable macroeconomic situation in Armenia, the ongoing actions in the domestic political life and the fight against corruption favorable for investors.

“We highly appreciate Armenia’s investment climate. The macroeconomic situation in Armenia is very favorable. If we compare Armenia with the other member states of the Bank, the economic growth rate here is the highest. There is such a stable macroeconomic situation which is always welcomed by investors”, he told reporters in the Central Bank of Armenia.

The BSTDB President also highlighted the positive steps that are being taken in the domestic political life, in the economy, the fight against corruption, etc.

On February 10 the Black Sea Trade and Development Bank and Armeconom Bank signed a loan agreement worth 10 million USD aimed at financing SMEs.

Dmitry Pankin said the Bank’s strategy supposes expansion of activities in larger infrastructural programs, including also cooperation with the Armenian government.

The Black Sea Trade and Development Bank (BSTDB), an international financial institution with headquarters in Thessaloniki, Greece, was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB started operations in June 1999 and has authorized capital of €3.45 billion. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries.

Edited and translated by Aneta Harutyunyan