BSTDB AMONG LEAD PARTNERS OF THE BALKAN ACCESSION FUND

Press Release | 22-Nov-2006

BSTDB joins forces with other prominent investors including international financial institutions like EBRD, FMO (the Dutch Development Finance), DEG (the investment arm of KfW) and private investors in the Balkan Accession Fund (BAF). BSTDB’s participation in the fund amounts to € 10 million with an investment period of 7 years. BAF is a private equity fund, dedicated to investing in mid-size private companies in countries including Romania, Bulgaria, Moldova, Ukraine and Albania and will primarily focus on companies that have clear domestic and/or regional expansion capabilities. BSTDB funds will be used exclusively for the benefit of the member-countries. By working with the most dynamic local entrepreneurs and prominent companies, the Fund aims to develop strong regional business that will have positive impact on the countries’ economy.

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Balkan Accession Fund, launched in January 2005 by the Bulgarian-American Enterprise Fund, the Netherlands Development Finance Company (FMO), Germany's Deutsche Investitions und Entwicklungesellschaft (DEG) and the Romanian-American Enterprise Fund, focuses on middle-size private companies, mainly from the financial, retail, logistics and distribution, information and communication technology, healthcare and media sectors.

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 1,47 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. BSTDB is rated Long Term Baa1 and Short Term P2 by Moody’s.