BSTDB Board of Governors Approved New Medium-Term Strategy and Business Plan

Press Release | 08-Dec-2010

A special extraordinary meeting of the BSTDB Board of Governors took place in Thessaloniki on December 5, 2010. The Board has approved the Bank’s new Medium-Term Strategy and Business Plan for 2011-2014. 

Under the Strategy, the Bank aims to increase its total outstanding portfolio from about USD 924 million currently to USD 1,54 billion by end 2014. The share of public and quasi-public sector operations is set to grow from about 20% at present to 25%. Equity operations will expand significantly – to 5-7.5% from the present 1.4%. The BSTDB will seek to achieve a further rating upgrade from the current A3 to A2 grade from Moody’s by 2014, as well as to receive a comparable rating from a second leading credit rating agency.

The BSTDB operational objectives for the period of 2011-2014 include improving the balance of activities across countries of operations, while maintaining the share of smaller economies in total operational portfolio at around 20%. The Bank will focus on business contacts with medium-sized companies, municipal infrastructure and related services, sovereign backed operations as well as increase use and role of Technical Assistance. BSTDB will further improve cooperation with IFIs and other partners in development and continue substantive discussions with AAA-rated development banks and financial institutions which show an interest in becoming shareholders in the BSTDB.

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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 recently increased authorized capital of the Bank is SDR 3 billion (approx. USD 4,7 billion). BSTDB is rated A3 with stable outlook by Moody’s.

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org