BSTDB further develops its Trade Finance Program in Georgia

Press Release | 21-Mar-2011

BSTDB increased its revolving trade finance facility amount to Cartu Bank, Georgia by USD 3 million to USD 8 million. The facility will continue to be used by Cartu Bank for providing short-term export and import financing to Georgian importing and exporting companies trading with BSTDB member countries and beyond. Maximum disbursement term under the Facility is up to 360 days.

With, this operation, BSTDB’s total portfolio for trade finance operations in Georgia reaches USD 20.5 million. Since the launch of BSTDB’s trade finance program in the country, Georgian banks have utilised USD 51 million.

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Cartu Bank is a joint stock bank, incorporated in Georgia in 1996. Its primary business consists of commercial activities, operations with securities, foreign currencies, originating loans and guarantees. Headquartered in Tbilisi, the Bank has a total of nine branches throughout Georgia.  

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  € 3.5 billion. BSTDB is rated A3 with stable outlook by Moody's.

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org