BSTDB continues support for SME sector in Ukraine

News | 10-Jun-2008

Small and medium-sized enterprises in Ukraine will benefit from a USD 20 million loan that the Black Sea Trade and Development Bank will extend to Bank Pivdennyi. The proceeds of the loan will be directed to Ukrainian small and medium sized enterprises (SMEs) undertaking modernization programs of their productions facilities, corporate development or investment programs.

The BSTDB financing will enable a wider range of entrepreneurs in Ukraine to have access to medium-term funding and will also help Bank Pivdennyi to expand its lending activities. The operation strengthens the BSTDB efforts to promote the development of the SME sector as a backbone of market economy in Ukraine.

Pivdennyi Bank is the second Ukrainian partner selected to promote the BSTDB SME support program in the country, with a similar facility provided by BSTDB to Procredit bank Ukraine.

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Pivdennyi Bank is an open joint-stock commercial bank with its registered office in Odessa, South-Western Ukraine. The bank offers a range of banking services to corporate and retail customers through a network of branches, outlets and other offices. The bank is currently focusing on increasing the volume of loans extended to and deposits placed by retail customers in its loan and deposit portfolios.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. The Bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects in the public and private sectors in its member countries. BSTDB is rated Long Term Baa1 and Short Term P2 (both with positive outlook) by Moody’s.