During 2019 the Black Sea Trade and Development Bank (BSTDB) made good progress towards its portfolio target of EUR 2.1 billion set in the Bank’s Medium-Term Strategy for 2019-2022. The portfolio has reached EUR 1.65 billion by mid-year and is anticipated to hit EUR 1.9 – 2.0 billion by the year end. Given this robust performance, the BSTDB Board of Directors intends to consider increased quantitative targets for the Medium-Term Strategy at its scheduled November meeting, to allow for additional portfolio growth beyond EUR 2.1 billion by the end of the Strategy period. In line with the Strategy, the portfolio share of outstanding sovereign guaranteed projects grew from 9.5% to 18.1% in the first half of 2019, with a further increase expected before the year end.

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.

(с) Banknews

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