EURO 10 MILLION BSTDB LOAN TO SUPPORT SMEs IN ROMANIA

Press Release | 23-Nov-2006

BSTDB will provide the Banca Comerciala Carpatica (BCC) of Romania with a Euro 10 million medium-term SME loan facility. The facility which carries a tenor of 4 years intends to finance sub-loans offered by BCC to SMEs in the country. The proceeds of the facility will be used to provide short to medium-term financing in support of industrial, agricultural and service-related enterprises, including their start-up working capital requirements and export and pre-export financing.

This operation will further strengthen BSTDB’s efforts to enhance availability of funds for SME financing in Romania.

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Established in 1999, Banca Comerciala Carpatica currently has a well-established regional presence and strong commitment to SME sector financing. The Bank renders full range of banking services to retail and corporate clients through a large network of branches around the country and plans to further expand its branch network in order to consolidate its market share.

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.