Prime Minister Nikol Pashinyan received a delegation led by President of the Black Sea Trade and Development Bank (BSTDB) Dmitry Pankin.

Noting that Armenia’s economy boasts good growth dynamics, the Prime Minister said the Armenian government is keen to expand cooperation with the Black Sea Trade and Development Bank in a bid to support the private sector. Nikol Pashinyan stressed that there is huge cooperation potential in the fields of energy, tourism, agriculture and information technologies.

According to Dmitry Pankin, small and medium-sized businesses have so far been the Bank’s main focus in Armenia, but they are going to implement infrastructure and energy-related projects in the near future.

Welcoming the initiative, the Premier stressed that the above sectors show well-pronounced development trends and the need for borrowed funds will increase every year. “I mean that there is a broad field for interaction,” Nikol Pashinyan said and welcomed the signing of a new USD 10 million loan agreement between the Black Sea Trade and Development Bank and one of the Armenian trade banks with a view to lending funds to small and medium-sized enterprises.