BSTDB Increases Financing of Leasing Operations in Romania

Press Release | 18-Nov-2004

The Black Sea Trade & Development Bank will increase its revolving SME Leasing facility to UniCredit Leasing (Romania) by USD2.5 million to USD6 million. This revolving facility carries a maximum tenor of three years and has been used to finance eligible lease transactions concluded by UniCredit Leasing with Romanian SMEs. Since January 2003, BSTDB has financed the lease transactions of UniCredit Leasing by almost USD10 million.

UniCredit Leasing is a leading leasing company in Romania with an estimated 20% market share in equipment leasing in the country. The Company is 100% owned by UniCredito Italiano (Italy), a major financial group active in the Central and Eastern Europe.

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. With an authorized capital of SDR 1 billion (approx. USD 1,45 billion), the Bank supports economic development and regional cooperation by providing financing, guarantees, and equity for projects in the public and private sectors in its member countries. Since the commencement of operations in 1999, BSTDB has approved projects and trade finance operations totaling over USD 675 million. BSTDB is rated Long Term Baa2 and Short Term P2 by Moody's.