BSTDB AUTHORISED CAPITAL INCREASED THREEFOLD

Press Release | 06-Dec-2007

Following the dynamic development of the BSTDB in recent years, particularly its improved financial fundamentals and fast growing portfolio, the BSTDB Board of Governors decided to increase the authorised capital of the Bank from SDR 1 billion to SDR 3 billion (approx. USD 4,8 billion).

The Board of Governors additionally authorised the offering of SDR 1 billion for subscription by the existing 11 member-states, thus increasing the subscribed capital to SDR 2 billion. The paid-in portion of the newly subscribed capital will be 30%, with 70% callable - in line with the current capital structure.

This capital increase will greatly assist the BSTDB in the implementation of its development mandate in the region. Specifically it will allow the Bank to participate in bigger investment projects and will enhance the terms on which it is able to offer medium to long- term financing to its clients in the member countries.

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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. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity, guarantees 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.