BSTDB SUPPORTS MODERNISATION AND EXPANSION OF A LEADING RUSSIAN PRODUCER OF HYGIENE PRODUCTS

Press Release | 26-May-2005

The Black Sea Trade and Development Bank (BSTDB) will extend a 6- year USD 20 million corporate loan to JSC CONCERN KALINA, the largest producer of personal and household hygiene products in Russia.

The BSTDB financing supports the company’s investment programme, which includes modernization of production facilities, research and development, as well as promotion of new brands, acquisition of enterprises and expansion of inventories.

The BSTDB facility will support the development of highly competitive manufacturing in Russia and Ukraine and will facilitate the supply of quality products to the Russian market and to other BSTDB member countries.

JSC Concern Kalina is a Russian market leader producing cosmetics and hygiene products in conformity with the international standards. The company’s suppliers are the leading companies producing raw materials for perfumery and cosmetic products in the world. JSC Concern Kalina has production facilities in Russia and Ukraine.

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 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, the BSTDB has developed an active portfolio totaling over USD 630 million of approved operations.