BSTDB Provides Technical Assistance to the Bulgarian Development Bank
Press Release | 20-Jun-2014
The Black Sea Trade and Development Bank (BSTDB) signed a Technical Assistance Agreement with the Bulgarian Development Bank (BDB) to share with BDB knowledge and good practice in Trade Finance. The BSTDB technical assistance program includes direct consultations with staff specializing in Trade Finance and training seminars. The program will offer BDB staff an opportunity to discuss “case studies” of international best practice, trends and practices in trade finance operations.
“Technical assistance and knowledge sharing are essential elements of the BSTDB development mission. Assisting BDB in setting up trade finance services reflects the Bank’s long-term commitment to capacity building and training of banking professionals in member countries” stated Andrey Kondakov, BSTDB President signing the Agreement during the Bank’s Business Forum in Sofia.
“The Bulgarian Development Bank constantly seeks ways to increase its effectiveness in serving the small and medium enterprises and the Bulgarian economy. Therefore, we will not save any effort to increase our capacity and experience and I wish to thank the BSTDB for the assistance they will provide” said Dimo Spassov, Chief executive officer of the Bulgarian Development Bank.
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The Bulgarian Development Bank (BDB) is a financial institution 99.9%-owned by the Bulgarian state. It is the successor of Encouragement Bank established in 1999. Its focus is to support small and medium-sized enterprises. BDB is among the top four Bulgarian banks in terms of credit rating, rated BBB- by Fitch Ratings, the global credit rating agency. It is the only Bulgarian bank to provide financing via other credit institutions as well as direct financing. BDB is the best-positioned local bank to raise funds from international partners. For information on BDB, visit www.bdbank.bg.
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 EUR 3.45 billion). BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.
Press contact:
Haroula Christodoulou
Phone: +30 2310 290533
E-mail: cchristodoulou@bstdb.org