BSTDB finances a Russian industrial park

Press Release | 23-Jun-2010

The Black Sea Trade and Development made available a Euro 6.75 million senior loan, to be followed shortly by a Euro 1.8 million equity investment for the development and construction of Kaluga Industrial Park, a 28,700 sq.m. international standard industrial facility near the Volkswagen plant in Kaluga Region (Central Russia).

The project, scheduled for completion in 2010, will further promote the efficient operation of the automotive industry in the Kaluga region and will address the high demand for international standard warehousing and logistics facilities, currently not existing in the region. The project will also result in significant economic benefits to Kaluga area mainly from the creation of new employment opportunities and local tax revenues.

The project is financed jointly with the European Bank for Reconstruction and Development (EBRD) and the loan is provided to OOO A-Park, a special purpose limited liability company incorporated in Russia, established for the construction and operation of the Kaluga Industrial Park.

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OOO A-Park, a special purpose limited liability company incorporated in Russia, is jointly owned by a pool of private investors from Russia, Greece and Portugal who have previous experience in development of logistics parks in Russia, as well as by OAO Kaluga Regional Development Corporation founded by the government of Kaluga Region.

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.

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org