BSTDB’s Response to COVID-19 Crisis
Press Release | 24-Mar-2020
In these difficult times the BSTDB is sympathetic to the efforts our Member States make to contain the spread of the coronavirus and reduce the negative impact it has on human lives, societies and economic activity. BSTDB is committed to make best efforts to continue supporting our clients and Member Countries. The Bank intends to refocus its financing of approximately EUR 900 million, planned for new operations in 2020, to assist the sectors and industries most affected by the turmoil caused by the COVID-19 infection. In the current critical conditions and changes in market perceptions of risk and liquidity, the Bank continues to assist the small and medium sized enterprises, the most vulnerable segment of companies, and to provide support that our Member Countries and businesses need. We will offer additional technical assistance to affected clients to facilitate project preparation, including business plans, feasibility studies, environmental impact assessments, etc. The Bank will focus on assisting municipalities, utilities, manufacturing and pharmaceutical companies being on the front line of the fight against Covid-19.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, 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.
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