Black Sea Trade and Development Bank supports number of Ukrainian projects

"A meeting of the Board of Directors of the BSTDB was held, which, among other things, approved the financing of four projects of Ukrainian companies: Ukrgasbank, Galnaftogaz, Metinvest and the construction of a school in Kyiv," the press service of the Economic Development, Trade and Agriculture Ministry informs.

It is noted that the 22nd annual meeting of the Board of Governors of the Black Sea Trade and Development Bank was held under the chairmanship of Deputy Minister of Economic Development, Trade and Agriculture of Ukraine - Trade Representative of Ukraine Taras Kachka after the meeting of the Board of Directors, namely on June 18. Kachka stressed that despite the crisis, the BSTDB continued to work with projects with big potential in the public and private sectors and to support the economic development of member states.

Since the start of Bank’s operation in Ukraine, it has supported the implementation of 47 projects totaling EUR 738.9 million. In particular, the projects focus on consumer sector, financial institutions, industry, production of consumer goods, utilities, telecommunications, energy, raw materials and supplies. Thus, the meeting participants were presented a report on the Bank’s operation in 2019, informed about the treasury operations and its financing strategy. The participants also discussed the further strategic course of the BSTDB in the face of modern challenges and determined the Bank's budget for 2020.

The Black Sea Trade and Development Bank was established in 1998 on the basis of the agreement between the member countries of the Black Sea Economic Cooperation, signed in Tbilisi on June 30, 1994. The Bank was co-founded by 11 countries: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, the Russian Federation, Turkey and Ukraine. The BSTDB is designed to promote economic cooperation, trade and cooperation between the countries of the Black Sea region. The goals of the Bank are the development of trade relations in the region, the promotion of international projects, the promotion of foreign investment, the provision of guarantees for the development of trade and economic relations at the state level and in private business.

ol