In May 2016, OeEB signed a long-term credit line of EUR 20 million to the Black Sea Trade & Development Bank (BSTDB) for the financing of investments in the Black Sea region.
|Project name||Black Sea Trade & Development Bank (BSTDB)|
|Sector||Financial sector / Microfinance / SME|
|OeEB project volume||EUR 20 million|
|Projekt partner(s)||Black Sea Trade & Development Bank (BSTDB)|
Until 2008, the countries of the Black Sea region had an average economic growth of 5.9%. Since then, the region has been strongly affected by the economic crisis. Private investors as well as small and medium-sized enterprises (SMEs) urgently need capital in order to be able to realise their investments.
The long-term credit line for BSTDB will help stabilise the economic development of the Black Sea region and enable investments in these countries. Thereby, OeEB contributes to strengthening the private sector and helps secure a sustainable economic growth.
BSTDB is a local multilateral development bank. The bank's aim is to accelerate the economic development of its member countries and to support cooperations as well as trade between them.
OeEB and BSTDB have been long-standing partners with a first credit line of EUR 30 million signed in June 2012.