Press Releases

BSTDB and BSEC Will Jointly Use Project Preparation Facility Provided by Russia


The Black Sea Trade and Development Bank (BSTDB), the Secretariat of the Organization of the Black Sea Economic Cooperation (BSEC) and the Government of the Russian Federation signed a Donor Agreement providing USD 1 million for the preparation of projects in the Black Sea region. The facility, initially funded by the Russian Government, is open to other donors.  The funds will be jointly used by BSEC and BSTDB to offer technical assistance in project preparation. 


The Agreement was signed today in Thessaloniki by Vasily Nebenzya, the Deputy  Minister of Foreign Affairs of the Russian Federation, Ambassador Michael Christides the Secretary General of the BSEC Permanent International Secretariat, and Ihsan Ugur Delikanli, the BSTDB President. .


 ‘I am happy to sign this Agreement launching a new project preparation facility that will help the regional business development. We are thankful to the Russian Government for this initiative and hope it will be followed by other donors willing to contribute to regional growth and cooperation.   This facility will bring  our cooperation with BSEC to a higher level and will make a meaningful contribution to the implementation of our respective mandates for the benefit of both the countries and peoples of the Black Sea region.” – said the BSTDB President.


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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 information on BSTDB, visit


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BSTDB President Delikanli, Deputy Minister Vasily Nebenzya, and BSEC Secretary General Ambassador Christides at the signing.