A delegation of Black Sea Trade and Development Bank (BSTDB) is in Armenia to present the strategy plan for the next 3-4 years.

According to BSTDB Armenia manager Vardan Aramyan, 10 programs estimated at $70 million were financed by the bank as of 2010. “This year, financing of agriculture will be a priority,” he said.

The BSTDB will also enlarge its portfolio for industry financing and the banking sector, where the emphasis will be laid on SME financing. “Such strategy will benefit the Armenian economy development,” Aramyan said.

For his part, BSTDB President Andrey Kondakov noted that although Armenia has a small share in the bank (1% or 5.3 mln euros), the country was the first to express willingness to make its contribution to the bank’s capital.

As to plans for 2011, he said expansion of credit portfolio and its diversification is envisaged.