Press Releases

New BSTDB Loan to Support Trade Finance in Russia


03-Nov-2017

The Black Sea Trade and Development Bank (BSTDB) is expanding its support to small and medium-sized enterprises (SMEs) in Russia with a new USD 20 million Revolving Trade Finance facility to Rosevrobank for on-lending to Russian export- import companies.

 

BSTDB has a successful 10-year partnership with Rosevrobank beginning in 2008 with a USD 20 million loan for mortgage financing, which resulted in extending more than 350 mortgage sub-loans. BSTDB has provided to Rosevrobank a total of USD 40 million for SME financing which has been on-lent to more than 320 SMEs.

 

Signing the loan agreement, Igor Leshukov, BSTDB Vice President, said: “We are pleased to be coming together with our long-lasting partner, Rosevrobank, to provide further support of trade activity in Russia. The operation is a perfect example of our strategy in Russia to support business generation capacity”.

 

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Rosevrobank’s principal business activity is commercial and retail banking operations within the Russian Federation. The Bank has operated under a full banking license issued by the Central Bank since 1994. Rosevrobank shareholders are REG Holding (64.66%), EBRD (11%), DEG (5,7%) and Sovcombank (28.69% in total, including through REG Holding). Rosevrobank is rated BB- by Fitch and BB- by S&P (Both ratings with stable outlook).

 

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 www.bstdb.org.

 

Press contact:
Haroula Christodoulou
Phone: +30 2310 290533
E-mail: cchristodoulou@bstdb.org