Kubiv calls on Black Sea Trade and Development Bank to expand financing of projects in Ukraine

“It is important that the Board of Governors expands the activities of the Bank and approved 28 new projects to the tune of EUR 569.7 million in 2018. At the same time, it is important that the active portfolio of projects in Ukraine corresponds to the level of our contribution to the Bank's share capital, namely 13.5%, not 6% we see now. I urge the Bank’s management to expand the presence of the BSTDB in Ukraine and increase funding for Ukrainian development projects,” Kubiv said at the 21st Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) in Istanbul, the Government portal reports.

“The BSTDB is a development bank by the nature of its activity, so it should promote and finance regional projects of the public and private sector of the member countries, including Ukraine. In particular, this may be the development of digital economy and digital infrastructure in the Black Sea region since it is an investment in general security, a new dimension of trade, better social and public services, education, therefore a better future and a better quality of human life,” Kubiv stressed.

The Black Sea Trade and Development Bank is an international financial institution that unites 11 member states of the Black Sea Economic Cooperation Organization. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries.

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