BSTDB Raises Financing for Operations in the Black Sea Region

Press Release | 19-Jun-2011

The Black Sea Trade & Development Bank (BSTDB) and. PROPARCO, the French Development Financial Institution, have concluded a loan agreement for the financing of projects of mutual interest in the Black Sea region. For this purpose, PROPARCO will make available a Euro 20 million loan to BSTDB for a term of 10 years.

The financing provided under the loan agreement, will be allocated to private sector projects in Albania, Armenia, Azerbaijan, Georgia, Moldova, Türkiye and Ukraine. Priority sectors for financing include renewable energy, microfinance, health, education, agribusiness and sustainable tourism.

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 PROPARCO is a Development Finance Institution jointly held by Agence Française de Développement (AFD) and public and private shareholders from the North and South. Its mission is to catalyze private investment in emerging and developing countries with the aim of supporting growth, sustainable development and the achievement of the Millennium Development Goals (MDGs). PROPARCO finances investments that are economically viable, socially equitable, environmentally sustainable and financially profitable. PROPARCO is one of the main bilateral development finance institutions in the world. It invests on four continents encompassing the major emerging countries and the poorest countries, particularly in Africa, and has a high level of requirements in terms of social and environmental responsibility. www.proparco.fr

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 are 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 (EUR 3.3 billion).  BSTDB is rated long term A3 by Moody’s and A by Standard & Poor’s.

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org

Benjamin Neumann

Tel: + 33 1 53 44 31 66

Email: neumannb@proparco.fr