As part of the partnership established in May 2014 with the Black Sea Trade and Development Bank (BSTDB), FINCA UCO CJSC received the second tranche of the senior loan amounting to USD 2 million in January, 2015. The 1st tranche in the amount of USD 3 million was received back in June 2014.
“This portion of the loan together with the first will assist FINCA in supporting businesses of small and medium enterprises through micro lending”, noted Hrachya Tokhmakhyan, General Director of FINCA UCO CJSC. “This is the first loan from BSTDB, and we believe this will be a step forward towards a more productive and stronger partnership.”
FINCA UCO CJSC is a subsidiary of FINCA Microfinance Holding Company owned and managed by FINCA International with headquarters in Washington, DC. FINCA Int. serves 1.8 million people through its subsidiaries in 23 countries of Africa, Eurasia, the Middle East and South Asia and Latin America. In Armenia, FINCA’s portfolio reached USD 54.5 million and 53,052 active clients by the end of January 2015. For more information on FINCA, visit www.finca.am.
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 more information on BSTDB, visit www.bstdb.org.