BSTDB and InfraVEB Agreed to Jointly Promote Investment Projects in Russia

Press Release | 14-Feb-2019

The Black Sea Trade and Development Bank (BSTDB) and JSC “VEB Infrastructure” (InfraVEB) have signed a Cooperation Agreement at the margins of the Russian Investment Forum in Sochi. The Agreement was signed by Yuri Korsun, Director General of InfraVEB and by Dmitry Pankin, President of BSTDB.

The Agreement envisages cooperation in promoting investment projects and activities in Russia. Main areas of collaboration include the project identification and preparation for further financing, and exchange of information and analysis.

Initially, the parties plan to consider opportunities for joint preparation and financing projects in the area of road and public transport.

“We have agreed on key areas of cooperation. I have no doubt that the cooperation will be mutually beneficial and will enable us to implement projects of importance for the Russian economy, including those in the area of urban development, transport, municipal services and energy infrastructure,” stressed Yuri Korsun.

BSTDB President Dmitry Pankin said: “As a regional development bank, BSTDB seeks to increase substantially its involvement in promoting infrastructure projects including energy, transport and municipal infrastructure in Russia and in the Black Sea region at large. We believe that our cooperation agreement with InfraVEB would help us implement this task efficiently and proceed with financing specific projects very soon.”

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JSC “InfraVEB” deals with the preparation and promotion of investment projects at early stages, attracts extra-budget funding, and assists in project implementation.

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