Thursday, December 2 2010 15:49

Armenian CB chairman to take part in BSTDB governors meeting


ArmInfo. Chairman of Armenian Central Bank Artur Javadyan will attend the BSTDB meeting of governors on December 4-6 in Thessaloniki, Greece. As Armenian CB press service reports, the bank's mid-term strategy and business-plan for 2011-2014, change of regulations of the bank's Board of Governors and other issues will be discussed at the meeting.

The BSTDB mission aims at stimulation of economic development of shareholder- countries. Armenia has been cooperating with BSTDB since its creation. This bank quite actively finances SME, as well as the sphere of industry and private sector.

To note, BSTDB was founded in 1997 according to the agreement signed among 11 member-states of the Black Sea cooperation (Albania, Azerbaijan, Bulgaria, Turkey, Armenia, Greece, Moldova, Russia, Romania, Georgia, Ukraine), and it started its activity in 1999. Armenia's share makes up 1%, and about 5% in BSTDB's active portfolio. BSTDB has been financing 169 projects to the total sum of $2.1 bln since 1999. BSTDB's credit portfolio as of late 2009 made up $891 mln.
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