BSTDB joins a new Equity Fund for investments in South Eastern Europe

Press Release | 30-Sep-2010

BSTDB joined a newly established private Emerging Europe Accession Fund (EEAF) together with European Bank for Reconstruction and Development (EBRD), the European Investment Fund (EIF), DEG (the German Investment and Development Company), Acquina Partners – a Swiss-based private institutional investor and a group of individual investors. The Fund is managed by Axxess Capital which has successful experience in managing similar facilities - Balkan Accession Fund and Romanian American Enterprise Fund.

EEAF’s targeted capitalization is of EUR 150 million and the Fund had the first close at EUR 94 million. The BSTDB capital commitment is EUR 7 million. The Fund will invest in private businesses in South Eastern Europe, with a main focus on Romania, Bulgaria and Türkiye. EEAF will target equity investment addressing lower mid-market well-established companies, enjoing competitive advantages and good growth prospects in their industries and across the region. The Fund will make investments in the range of EUR 5-20 million with a special attention to B2B services, manufacturing, logistics and distribution, financial services, healthcare, IT&C.

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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, 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 authorized capital of the Bank is SDR 3 billion (approx. USD 4,5 billion). BSTDB is rated A3 by Moody’s.

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org