BSTDB and Inecobank Sign USD 10 Million Credit Line to Support SMEs in Armenia

Strategic Insights -

The Black Sea Trade and Development Bank (BSTDB) and Inecobank have signed a new USD 10 million credit line to support the development of small- and medium-sized enterprises (SMEs) in Armenia. The agreement was signed during the BSTDB Business Forum in Yerevan, a flagship event that promotes regional cooperation and sustainable economic growth. The new facility is expected to support job creation, income generation, infrastructure development, and increased trade activity, generating broader multiplier effects across the economy.

Key Takeaways:

  • The USD 10 million credit line is aimed at supporting the development of small- and medium-sized enterprises (SMEs) in Armenia, with a focus on job creation, income generation, and infrastructure development.
  • The agreement was signed during the BSTDB Business Forum in Yerevan, a flagship event promoting regional cooperation and sustainable economic growth.
  • The new facility is fully aligned with the priorities of the BSEC Economic Agenda, which promotes regional development, financial inclusion, and the growth of competitive private sector enterprises.
  • This is the fourth credit line BSTDB has provided to Inecobank since the partnership began in 2007, extending over USD 21.8 million in financing to more than 100 Armenian enterprises.
  • Inecobank CJSC is a leading financial institution in the South Caucasus, offering a full range of banking services to individuals, SMEs, and large enterprises.

Statistics:

  • USD 10 million: the amount of the credit line signed between BSTDB and Inecobank to support SMEs in Armenia.
  • Over 100 Armenian enterprises: the number of businesses that have received financing from BSTDB through Inecobank since the partnership began in 2007.
  • USD 21.8 million: the total amount of financing extended by BSTDB to Armenian enterprises through Inecobank to date.
  • EUR 3.45 billion: the authorized capital of the Black Sea Trade and Development Bank (BSTDB).

Sources:

  • Black Sea Trade and Development Bank Press Release (10-Jul-2025)
  • BSTDB website (www.bstdb.org)
  • Inecobank CJSC website (http://www.inecobank.am)