BSTDB Approves its Largest Financing in Greece

Press Release | 22-Apr-2019

The Board of Directors of the Black Sea Trade & Development Bank (BSTDB) approved the provision of a corporate loan to the Public Power Corporation S.A. (PPC S.A.) for an amount of EUR 160 million with a 5-year tenor for the purpose of financing the Corporation’s capital expenditure plan. This is the largest BSTDB operation to date.

The operation is expected to have multiple benefits for the Greek economy, and the energy sector in particular, by improving the country’s energy mix and infrastructure. It will assist in restoring Greece’s economic growth by generating tax revenues, creating new jobs and boosting confidence in a vital sector of the economy.

The operation marks the beginning of a valuable cooperation between BSTDB and PPC S.A, the biggest power producer and electricity supply company in Greece with approximately 7 million customers.

PPC S.A. currently holds assets in lignite mines, power generation facilities (conventional thermal and hydroelectric power plants) and distribution as well as RES units, accounting for approximately 60% of the total installed capacity in the country.

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 
Twitter: @BSTDB