Black Sea Trade and Development Bank: Best Regional Development Bank Global 2015
As the financial pillar of the Organisation of the Black Sea Economic Cooperation (BSEC), the Black Sea Trade and Development Bank (BSTDB) proactively supports and underwrites one of the world’s most promising regions. As the eleven BSEC member states look to modernise and reinvigorate their economies, the Black Sea Trade and Development Bank stands ready to partner with both public and private entities to provide the wherewithal required to boost regional growth.
HQ: Black Sea Trade & Development Bank
With an authorised capital of almost €3.5bn, the bank has helped design structured finance deals for over 300 projects across a full range of sectors. The BSTDB has been instrumental in the realisation of large-scale infrastructure undertakings and projects in transportation, telecoms, manufacturing, energy, and other sectors. The bank offers mid to long-term loans, equity investments, and guarantees, amongst others, and also maintains a special programme aimed at providing loans to small and medium-sized enterprises (SMEs) as well as trade financing facilities.
As a cross between a multilateral development bank and a commercial bank, the Black Sea Trade and Development Bank is unique in both its outlook and the scope of services offered. The BSTDB sit squarely at the crossroads of intraregional trade and economic cooperation. As such, the Thessaloniki-based bank straddles regional divides and provides an invaluable link between its members from Southeast Europe – mostly also part of the European Union – and the buoyant economies to the east and north of the Bosporus.
By fostering regional cooperation and integration, BSTDB adheres to its original mission, formulated in 1997. The bank commenced operations two years later. The Organisation of the Black Sea Economic Cooperation was set up in 1992. Its member states are Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.
The CFI.co judging panel commends the Black Sea Trade and Development Bank for fulfilling its mission in stellar way, embracing – as it does – the full gamut of international best practices. The judges are please to confer on BSTDB the 2015 Best Regional Development Bank Global Award.
