Offering unparalleled flexibility in the structuring of its clients financing requirements, the Black Sea Trade and Development Bank (BSTDB) meets the needs of businesses and state-owned entities in one of the world’s most dynamic – and fastest growing – regions. Headquartered in Thessaloniki, Greece – and set up in 1999 by the governments of Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine – the bank aims to support economic development and trade throughout the Black Sea Region.
The BSTDB maintains a number of facilities geared towards micro, small and medium-sized enterprises (MSMEs), recognising their importance as engines of growth. The bank often works in conjunction with organisations that support SMEs such as Albania’s Fondi Besa which recently accessed a $5m credit facility to supply working capital to rural MSMEs. In Georgia the BSTDB helped a local bank set up a MSME financing programme.
The bank is also heavily involved in underwriting regional trade by offering a number of instruments that address the funding needs of exporters and trading companies. Trade financing options run from short-term – typically less than one year – to medium/long-term with tenors of up to ten years.
The CFI.co judging panel is pleased to see the BSTDB take an active role in the promotion of both international trade and regional development. The judges reaffirm last year’s win and declare the Black Sea Trade and Development Bank winner of the 2016 Best Regional Development Bank Award.