New partnership will expand access to finance for businesses and support cross-border trade.
The Black Sea Trade and Development Bank (BSTDB) and IDBank have signed a EUR 10 million financing package to support small and medium-sized enterprises (SMEs) and trade-related activity in Armenia. The package comprises a EUR 9 million loan for SME financing and a EUR 1 million short-term revolving trade finance facility.
The transaction marks the beginning of cooperation between BSTDB and IDBank and reflects a shared commitment to expanding access to finance for Armenian businesses. By combining SME financing with trade finance support, the partnership aims to contribute to private sector development and economic growth in Armenia.
The financing will enable IDBank to expand lending to Armenian SMEs and support eligible import and export transactions, contributing to private sector development and cross-border trade. SMEs play a vital role in Armenia’s economy, and improved access to finance is one of the critical factors contributing to business development and job creation.
“Access to finance remains essential for the growth and competitiveness of SMEs. We are pleased to expand our presence in Armenia by entering into partnership with IDBank and support Armenian businesses through financing that will help foster investment, facilitate trade and contribute to sustainable economic activity,” said Dr. Serhat Köksal, President of BSTDB.
“IDBank continues to expand cooperation with reputable international financial institutions, and the partnership with BSTDB supports our strategic objective of providing Armenian businesses with broader access to international funding. The SME facility will contribute to financing business growth, working capital and investment needs of Armenian SMEs, while the trade finance facility will enhance IDBank’s capacity to support import and export transactions of corporate customers. Overall, the cooperation is aligned with IDBank’s client-centric approach and our role in supporting the real economy and international trade,” said Mher Abrahamyan, Chairman of the Management Board of IDBank.
The SME facility will provide medium-term financing to Armenian enterprises, supporting investment, modernization and working capital needs across productive sectors of the economy. The trade finance facility will help companies maintain commercial flows and strengthen their access to regional and international markets.
IDBank is a commercial bank in Armenia providing a range of financial services to retail, SME and corporate clients. The Bank has a strong focus on digital banking, payment solutions and innovative financial services, and operates as part of the broader ID Group ecosystem.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, 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. For information on BSTDB, visit www.bstdb.org.
THE BANK IS SUPERVISED BY THE CBA
