BSTDB further develops its Trade Finance Program in Türkiye

Press Release | 02-Jul-2009

BSTDB is providing Turk Eximbank with a 5-year revolving pre-export finance facility of up to 40 million US dollars.

The facility will be used by Turk Eximbank for on-lending to Turkish exporting companies trading with BSTDB member countries and beyond.

This credit line is built on the successful 10-years cooperation between BSTDB and Turk Eximbank to support trade between Türkiye and the Black Sea Region. BSTDB provided to Turk Eximbank in aggregate 361.4 million US Dollars under the revolving short-term Pre-export Finance Facility.

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Established in 1987, the Turk Eximbank is the official export-credit agency of the Republic of Türkiye. It is 100% owned by the Turkish government and used as a public policy tool to support Turkish exporters. Turk Eximbank provides short, medium and long term financing to export goods and services before and after exportation. Financing tools include loans, guarantees and insurance. As Turk Eximbank is financially sound and maintains one of the highest capital adequacy ratio among Turkish banks, it enjoys the ratings from Moody's at Ba1 and from S&P at BB- which are Türkiye's ceiling levels.

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. 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 recently increased authorized capital of the Bank is SDR 3 billion (approx. USD 4,85 billion). BSTDB is rated Long Term Baa1 with positive outlook and Short Term P2 by Moody’s.