BSTDB Extends EUR 15 million Loan to a Greek Marble Processing Company

Press Release | 18-Oct-2016

Strengthening its engagement in Greece’s economy, BSTDB will provide a EUR 15 million loan to Marmor SG Marble and Granite Process S.A, a marble quarrying, processing and trading company operating in Kavalari in the Thessaloniki area of Northern Greece.

The seven-year BSTDB loan will help advance expansion of Marmor’s production capacity and upgrade its equipment base. The operation will reinforce further the company's competitive position as exporter to the countries of the Black Sea region and beyond. Marmor has a strong export-oriented profile, selling 90% of its products to 85 countries, including BSTDB Member States such as Türkiye, Russia, Romania, Bulgaria and Albania.

“We are pleased to assist growth of an industry leader and exporter operating in one of the less developed areas of Greece. This underscores our commitment to supporting economic development and job creation in our host country at a time of its utmost need”, said Ihsan Ugur Delikanli, BSTDB President after the signing of the loan agreement in Thessaloniki.

Commenting on the deal, Ioannis Antoniadis, President of Marmor said: “Our partnership with such a prestigious international organization as the Black Sea Trade and Development Bank, emphasizes the developmental nature of our investment plan. We are very pleased to sign this important loan agreement with the Bank, which will provide our group with the means to maintain our outward looking business strategy and stand out as an ambassador of Greek marble production internationally”.

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Marmor SG Marble and Granite Process S.A.  was established in 1981 in Thessaloniki as a marble processing company. Throughout the years and following continuous capital investments, Marmor evolved to become one of the largest companies quarrying, processing and trading marble, granite and natural stones in Greece and one of the largest exporters of marble tiles worldwide. Its annual production capacity is 1,250,000 sqm. For more information, visit www.stonegroup.gr.

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.