FINCA UCO CJSC continues to support the small and medium businesses in Armenia through micro lending, resulting with a new partnership with the Black Sea Trade and Development Bank (BSTDB) in May 2014. FINCA received the first tranche of $3 million USD in June, 2014 and the unutilized portion of $2 mil USD will be disbursed later in 2014.

FINCA UCO CEO Hrachya Tokhmakhyan believes that FINCA continues to fight poverty and ensure sustainable development and increased economic activity for the low-income population of Armenia. Moreover, as part of responsible lending FINCA has all the measures in place to manage the potential environmental and social risks associated with micro-financing activities. Such risks are constantly being assessed and monitored by FINCA’s more than 200 loan specialists.

FINCA UCO CJSC, a subsidiary of FINCA Microfinance Holding Company owned and managed by FINCA International, with headquarters in Washington, DC, operates in Armenia since 1999. FINCA Int. serves over one and a half million people through its subsidiaries in 22 countries of Africa, Eurasia, the Middle East and South Asia and Latin America. In Armenia, FINCA’s portfolio reached $58.2 million USD and 53,474 active clients by the end of December 2013.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports 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 authorized capital of the Bank is EUR 3.45 billion). BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit