BSTDB mobilizes financing for investment in the Black Sea region
Press Release | 28-Apr-2015
The Black Sea Trade and Development Bank has signed a new loan agreement with KfW (Germany) for the financing of projects of common interest in the Black Sea region. The USD 100 million facility has a maturity of eight years. BSTDB will use the facility to finance economic and social infrastructure projects and to help develop the SME sector.
“This third loan facility that we are signing today attests to strengthening synergies and a real value added that the joint efforts of our development institutions bring to the Black Sea Region. The new facility will enable BSTDB to increase financing and development impact supporting productivity, employment and sustainable growth in the region” BSTDB President Delikanli said at the signing ceremony in Frankfurt.
“BSTDB and KfW share main goals and priorities in the Black Sea region and during the last years we intensified our cooperation, focusing on Infrastructure and SME-Finance Signing of today’s loan agreement supports the needed investments in the Region” said Dr. Norbert Kloppenburg, Member of KfW Executive Board.
Since 2006, the KfW’s Observer Status with BSTDB offers a solid platform for developing business and institutional interaction in areas, which include project co-financing, equity participations, and strategic policy discussions aiming at increased effectiveness of operations.
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About KfW Development Bank
KfW is one of the world´s leading and most experienced promotional banks. Established in 1948 as a public law institution, KfW is owned 80 per cent by the Federal Republic of Germany and 20 per cent by the federal states (“Länder”).
KfW Development Bank is Germany’s leading development bank and an integral part of KfW. It carries out Germany´s Financial Cooperation (FC) with developing countries on behalf of the Federal Government. Its goal is to combat poverty, secure the peace, protect the environment and the climate and make globalisation fair. KfW is a competent and strategic advisor on current development issues.
For information on KfW:
http://www.kfw-entwicklungsbank.de/International-financing/KfW-Entwicklungsbank/
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 are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.
Press contact:
Haroula Christodoulou
Phone: +30 2310 290533
E-mail: cchristodoulou@bstdb.org