BSTDB to hold its Annual Meeting and Business Forum in Tirana
Press Release | 17-Jun-2011
On 19 June 2011, the Black Sea Trade and Development Bank (BSTDB) will hold its 13th Annual Meeting of the Board of Governors in Tirana under the chairmanship of Mr. Nezir Haldeda, BSTDB Governor for Albania and Deputy Minister of Finance. On this occasion, the Bank will organize a Business Forum “Albania: Working together to Promote Development Opportunities”.
BSTDB is making a growing contribution to Albania’s economic development. The Bank’s EUR 61,4 million portfolio is well diversified and covers investment in manufacturing, telecommunications, public health and the financial sector. Major Bank investment include Albtelecom (EUR 25 million), Kurum International steel producer (EUR 20 million) and Hygeia Hospital in Tirana (EUR 10 million). BSTDB provided a USD 6,2 million trade finance credit line to Credins Bank and also participated in two equity funds making investments in Albanian SMEs. Furthermore, in 2010 BSTDB invested EUR 10 million in Albanian government bonds.
In 2011-2014, BSTDB plans to increase its investment exposure in Albania by over EUR 50 million. The Bank’s lending will focus on trade related activities, the development of infrastructure and energy sector. BSTDB will continue its support to Albanian SMEs by providing special credit lines through Albanian financial institutions. The Bank co-finances operations with other international and national lenders and private investors.
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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 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, (appx. 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