BSTDB Board Of Governors Decides To Raise Capital Base

2024-05-22 05:19:15

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 22. The Board ofGovernors of the Black Sea Trade and Development Bank (BSTDB) hascompleted the subscription process for the Bank's second capitalincrease during a special meeting held in Ankara, Türkiye, Trend reports via theBSTDB.

Following the successful full subscription and allocation of theoffering to its shareholders, BSTDB's capital base has been raisedby 35 percent, reaching €3.10 billion.

This capital increase will enhance BSTDB's financial capacity,enabling the Bank to offer a broader range of financing instrumentsto address critical regional challenges, thereby driving furthergrowth and prosperity in Black Sea member countries.

The Black Sea Trade and Development Bank (BSTDB) is aninternational financial institution established by Albania,Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania,Russia, Türkiye, and Ukraine. The BSTDB headquarters are inThessaloniki, Greece. BSTDB supports economic development andregional cooperation by providing loans, credit lines, equity, andguarantees for projects and trade financing in the public andprivate sectors in its member countries.

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