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BSTDB Allocates EUR 30 million to Help Post-Pandemic Recovery in Black Sea Region

The Black Sea Trade and Development Bank (BSTDB) has signed a EUR 30 million facility from the Development Bank of Austria (OeEB) aimed to finance private sector projects and investment programs in the industry, agriculture and service sectors and to provide working capital and export financing in Albania, Armenia, Azerbaijan, Georgia, Moldova and Ukraine.

As BSTDB stressed in an official statement, “the main beneficiaries of the facility will be small and medium-sized enterprises (SMEs), which is the category most affected by the impact of the Covid-19 pandemic and as such prioritized by BSTDB.”

The new facility will provide additional resources to finance the BSTDB’s efforts to contribute to the measures being taken by the governments of member countries to help the post-pandemic economic recovery.

By Ana Dumbadze

Source: bstdb.org

25 May 2020 13:08