BSTDB extends USD 1,5 million to Nadra Bank (Ukraine) to Support Exports to the Black Sea Region

Press Release | 21-Mar-2001

The Black Sea Trade and Development Bank (BSTDB) will make available USD 1,5 million credit line to Nadra Bank (Ukraine), which has been selected by BSTDB as a financial intermediary for its trade finance programmes in Ukraine. The signing of the loan agreement took place on March 21, 2001 at the BSTDB headquarters in Thessaloniki, Greece. This facility is the first trade finance operation of BSTDB in Ukraine.

The credit line will contribute to the promotion of Ukrainian exports. Nadra Bank will use the facility to provide exporting companies with working capital. The maximum tenor of financing under the facility will not exceed 180 days. According to the agreement, at least 50% of the facility should be used to support exports to the BSTDB member countries. In addition to receiving pre-export financing, Ukrainian exporters will be able to offer attractive deferred payment terms to their buyers, which will increase their competitiveness and stimulate regional trade.

Nadra Bank was established in 1993. The bank ranks among top ten Ukrainian banks and operates as a modern universal commercial bank providing wide range of services to Ukrainian companies and individuals. Nadra Bank cooperates with international commercial banks, IBRD and EBRD under the programme of financing small and medium-sized enterprises. The bank is experienced in financing export and import transactions and is well positioned to deliver BSTDB's trade financing facilities to Ukrainian companies.