YEREVAN, October 25, /ARKA/. A delegation of the Black Sea Trade and Development Bank (BSTDB), led by its chairman Andrei Kondakov, has arrived today in Armenia, the Central Bank of Armenia said in a press release.

It said members of the delegation are scheduled to meet with Armenian president, minister of finance, Central Bank governor and top executives of Armenian Ardshininvetsbank. It said also the results of the visit will be published during a Tuesday news conference.

Andrei Kondakov was appointed to the post on May 16, 2010. 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 Bank supports economic development and regional cooperation by providing trade and project financing, guarantees, and equity for development projects supporting both public and private enterprises in its member countries.

Russia, Turkey and Greece hold 16.5% of stake each, Bulgaria, Romania and Ukraine -13.5% each, Albania and Azerbaijan hold 2% stake each, while Armenia, Georgia and Moldova 1% each. Since 1999 the Black Sea Trade and Development Bank has financed implementation of 169 projects worth $2.1 billion. -0-