Armenian Prime Minister Nikol Pashinyan and Black Sea Trade and Development Bank (BSTDB) President Dmitry Pankin today, in Yerevan, discussed prospects of developing the private sector in Armenia.

Noting that Armenia’s economy boasts good growth dynamics, Pashinyan, according to an Armenian government press release, said that his government is keen to expand cooperation with the BSTDB to support the private sector.

Pashinyan said there is huge cooperation potential in the fields of energy, tourism, agriculture and information technologies.

According to Pankin, small and medium-sized businesses have so far been the BSTDB’s focus in Armenia, but they are going to implement infrastructure and energy-related projects soon.

Welcoming the initiative, Pashinyan said the above sectors show good development trends and the need for borrowed funds will increase every year.

 “I mean that there is a broad field for interaction,” Pashinyan said and welcomed the signing of a new USD10 million loan agreement between the Black Sea Trade and Development Bank and one of the Armenian trade banks with a view to lending funds to small and medium-sized enterprises.