Wide. Flexible.
Tailor made.
BSTDB offers a wide range of financial instruments and takes a flexible approach in structuring its financial products. The principal forms of direct financing offered by the bank are loans, equity and guarantees. Our financial products may be offered separately or in any combination. The terms of the Bank's products are tailored to meet the specific needs of each client. Adjustments may be made throughout the life of an operation, if so provided in the original documentation.
Loans
BSTDB offers a wide range of loans, which enables it to respond flexibly and effectively to the diverse needs of its clients and to address their specific financial risk. BSTDB tailors loans to specific financial requirements of its clients, including project, corporate and trade transactions, and affords its clients the benefit of the most sophisticated financial techniques available in the international financial markets.
BSTDB provides loans to private and state-owned entities. BSTDB will offer a range of short–to–long-term loan products on both variable and fixed bases. Loans are normally to be secured, although BSTDB may accept an unsecured position where this is judged to be consistent with sound banking principles. Loan covenants must be considered which will ensure the maintenance of a balanced financial structure.
Loans extended by BSTDB may be denominated in any currency, including local currencies, or a combination of currencies in which BSTDB is able to fund itself. Most loans will be medium- to long-term, i.e. outstanding for more than one year. BSTDB’s Financial Policies stipulate that pricing must be determined taking into account the cost of capital employed, the level of risks involved, the administration and operating costs incurred in generating, implementing and monitoring a loan as well as the income requirements. Fees and commissions may be charged consistent with principles set out in the Bank’s Financial Policy. This includes front-end commission as well as commitment charges, prepayment and conversion fees.
All project loans (sovereign and non-sovereign risk) will be fully assessed by BSTDB on the aspects of risk/return, repayment prospects and the capacities of the borrowers’ guarantors. BSTDB may provide loans for entirely new ventures or the expansion or modernization of existing operations. Usually BSTDB will be repaid from the cash flow of the venture. In exceptional circumstances BSTDB may provide loans with maturity longer than 10 years.
BSTDB may act either as a member of a financing syndicate, or as a separate financier. Where BSTDB considers it appropriate to provide financing separately from the main financing syndicate, it may do so either for the general purposes of the project, or it may identify a portion or a sub-section of the project, largely independent from the overall project, which it may finance wholly or partly.
Corporate loans are provided by BSTDB to companies (private entities, public/quasi-public institutions and/or agencies, financial institutions) in order to cover expenses such as, among others, purchasing equipment and inventories, acquiring other businesses, paying suppliers of utilities and meeting payrolls. In the general sense their coverage may be expanded to include all Balance-Sheet facilities.
Corporate loans are offered for periods not exceeding five years, although in well-justified cases may extend to seven years. The minimum size of the loan, for cost-effectiveness reasons, should be USD 3 million, or its equivalent in another acceptable currency. Exceptions for corporate loan operations in small shareholder countries are possible, but would need to (i) achieve a minimum level of profitability and (ii) be justified persuasively.
Types of corporate loans offered by BSTDB:
- Investment loans
- Construction financing
- Mezzanine financing
- Financing of acquisitions of other businesses
- Working capital
Credit lines are intended to provide selected banks with access to short- to medium-term capital that is not readily available through the market. They also aim to foster long-term relationships between these banks and their clients, particularly in support of trade finance activities and the provision of medium-term financing to small and medium-sized enterprises (SMEs). Only financial institutions being authorized by BSTDB as financial intermediaries are eligible to participate as borrowers for on-lending.
Financing is normally to be provided in the form of revolving funds but may also be in the form of back-to-back facilities or bullet loans through intermediary/client financial institutions incorporated in the respective member country, with an acceptable branch network, prior good quality experience in trade finance, leasing or SME financing, controlled by local and/or regional interests, when possible. The credit line shall normally have a maturity of 3 to 7 years.
As a rule, BSTDB will only take the risk of the financial intermediary, and not that of the recipient of the sub-loan.
Guarantees
BSTDB provides various types of guarantees. Operations involving guarantees are appraised, processed, and supervised in the same manner as those involving direct loan extensions and are subject to the similar limits and requirements.
BSTDB’s basic guarantee commission and fee structure may consist of front-end fees, exposure and/or periodic guarantee fees and commitment fee components which are meant to provide the Bank with an adequate compensation for the risks assumed as well as administrative expenses incurred. Guarantee fee pricing depends on the guarantee’s specific coverage and risks.
The obligor shall be liable for any additional fees and expenses including those associated with the appointment of any independent consultant required by the Bank at any stage of the project appraisal and development.
In all cases the maximum BSTDB exposure must be known and measurable and the credit risk must be acceptable. Precise legal definitions of the events guaranteed and pricing are handled on a case-by-case basis.
Equity investment
BSTDB invests equity in private sector companies and financial institutions in order to facilitate or enhance the participation of private capital, as well as to encourage the mobilization of additional capital from external sources.
Terms and Conditions:
- Minority position, between 5% to 25% of the entity’s share capital
- Average time for maintaining an equity investment: 5 years
- Rate of return reflecting the risk profile of the investment
- Clearly defined exit strategy
The bank does not seek an active role in the day-to-day management of the company.
BSTDB subscribes to both common and preferred shares equity, in general as a result of private equity placements rather than public offering.
Special products
At the request of clients in specific cases BSTDB may consider a range of special financial products appropriate for the operation. These may include:
In case that the other financing instruments are not appropriate, BSTDB may decide to undertake securities by subscribing to specific amounts and values issued by a public or a privately-owned enterprise as a way to enhance an issuer’s access to international and domestic capital markets to broaden its financial sources.
BSTDB’s capital market activities include a range of banking activities aimed at promoting the access of borrowing member countries and corporations to the international and domestic capital markets. BSTDB may underwrite the issuance of debt securities on the part of clients in its countries of operations.
Underwriting and other capital market services creating client credit exposure to BSTDB are subject to the same internal approvals required for loan and equity investments.
BSTDB’s exposure arising from these transactions will be assessed and the return to BSTDB on the underwritten instrument will be determined on the basis of BSTDB’s loan pricing policy for an equivalent exposure.
BSTDB may also provide its clients with financial management risk instruments either in association with other products or as stand-alone products to hedge their exposure to foreign exchange, interest rate, commodity price or any other project-related financial risk. These instruments are used to the extent that BSTDB is able to satisfactorily hedge the risks of such products in the financial markets
A lease is a rental agreement under which the owner of an asset allows someone else to use it for a specified time (usually minimum one year) in return for a series of fixed payments. The difference of financial leasing from the operational leasing is that the ownership title of the goods can be transferred to the lessee at a symbolic price after full payment of installments. BSTDB offers mainly four leasing-related products:
- Equity in leasing companies
- Credit lines/loans to leasing companies
- Credit lines/loans to manufacturers, for vendor leasing
- Direct net lease agreement.
In particular, the following goals should be pursued under BSTDB leasing operations:
- promoting transfer of modern technology and know-how to BSEC economies
- supporting private sector development in general, including SMEs
- facilitating and enhancing trade in capital goods among BSEC countries.
As a general rule, minimum BSTDB investment should be USD 3 million for loans/credit lines and USD 1 million for equity investments. To the extent possible, BSTDB leasing operations will be based on standardized contract formats, in order to minimize administrative and transaction costs.
Forfeiting is a technique mostly used for export transactions where the importer needs medium-term post-shipment financing, but the exporter cannot provide required supplier credit from his own funds and cannot take the repayment risk of the importer. It is the appropriate instrument to use for promotion of intra-regional trade in capital goods, and thus help achieve BSTDB’s mandate. BSTDB may act either as the forfeiter of the exporter or as the avalizer/guarantor of the importer, as appropriate.
Forfeiting is a proven method of providing fixed-rate medium-term export finance for international trade transactions in capital goods. Generally, export receivables are guaranteed by the importer’s bank. This allows the forfeiter to discount “without recourse” to the exporter, thus taking the transaction off the exporter’s balance sheet. This can have important benefits for the exporting company’s key financial ratios. Typically, the importer’s obligations are evidenced by accepted bills of exchange or promissory notes which a bank avals, or guarantees.
Minimum operation size is EUR 5 million with a repayment period of 1 to 5 years. The following types of charges may apply:
- Option fee
- Commitment fee
- Termination fee
- Discount rate
Discounting is a facility/service offered to well-established profitable businesses with an effective and professional sales ledger administration system (accounts receivable administration and collection). Discounting is a procedure through which a company is offered the same real cash flow benefits that factoring offers, but without the client’s obligation of losing control of the sales ledger.
This instrument is therefore more appropriate in trade finance operations, as a form of short-term credit. In particular, it can be very helpful as part of a funding package for a new start business dealing with financially stronger customers. As the process is a transactional one, based very much on the strength of the end user, this facility is particularly useful for businesses whose own balance sheet is not strong enough to support the level of funding required.
There are two main charges in invoice discounting agreements:
- Service Fee: This is a percentage charge on the discounted documents value
- Cost of Money: This is an interest charge on the funds advanced by the discounter
Trade finance
BSTDB Trade Finance Programs use a number of instruments designed to address funding needs of suppliers/exporters and/or buyers/importers of Member Countries. Trade Finance business is conducted through selected financial intermediaries (such as commercial banks, leasing companies, ECAs and development banks) within the framework of a credit facility agreement signed between BSTDB and the financial intermediary.
Most Trade Finance operations will normally require a financial intermediary to perform due diligence on the beneficiary (local supplier/exporter or buyer/importer) and assume that beneficiary risk -- the BSTDB has limited resources to reach beneficiaries in Member Countries, perform due diligence on them and assume the related risks. BSTDB’s intention is to work with local financial institutions and support their development and capabilities to provide better service and a broader range of financial products.
BSTDB will typically consider Trade Finance operations through financial intermediaries of a minimum amount set at EUR 4 million.
BSTDB will also consider direct applications to finance exports or imports of interested beneficiaries of a minimum amount set at EUR 4 million.
Trade Finance facilities can be either short-term with a tenor of up to 360 days or medium/long-term with a tenor of up to 5 years. In exceptional circumstances long-term tenors may be extended for up to 10 years.
BSTDB can offer fixed or floating interest rates for trade finance facilities, consisting of a base rate and a margin charged on the outstanding amount of the loan. In addition to the above, fees and commissions that will vary depending on the products, will be charged. Guarantee fees will be charged as a percentage of the guarantee amount per annum and will vary depending on the risk involved.
- EXPORT FINANCE FACILITIES
- IMPORT FINANCING
- COMBINED TRADE FINANCE FACILITY
The purpose of the export finance facilities is to provide financial support to suppliers/exporters in the Member Countries to enable them to perform export transactions. Under this category, BSTDB offers Pre-export Finance, Single/Multiple Supplier Refinancing Facilities and Export Finance Facility Guarantees.
Typically, suppliers/exporters’ loans will be short-term. Longer tenors may apply to cases where traded goods have long manufacturing periods (e.g. capital goods) and/or trade contracts terms provide deferred payment options.
Purpose
Pre-export Finance Facility is designed to provide financing to suppliers/exporters in advance necessary to produce manufactured goods, commodities and agricultural products for export and also extend deferred payment terms to their buyers, if needed.
Description
Pre-export Finance Facility is typically available through selected financial intermediaries, normally banks and export credit agencies (ECAs), located in the Member Countries, to which BSTDB has extended a Pre-export Finance Facility. BSTDB Pre-export Finance Facility will be committed and could be extended on a revolving basis. The Bank will accept all methods of payment under the Pre-export Finance Facility transactions financed through Financial Intermediaries. The Bank reserves the right to monitor transactions and may require information from the intermediary in this regard. BSTDB Pre-export Finance Facility provides financing to transactions when the goods being exported are produced in the Member Countries and comply with the minimum local content provisions set above.
Purpose
The purpose of this Facility is to help suppliers/exporters in the Member Countries sell capital goods in large amounts to markets in other Member Countries and elsewhere with medium- and possibly long-term credits. These transactions can include goods such as heavy equipment, machinery, vehicles, and other capital goods.
Description
BSTDB’s Single/Multiple Supplier Refinancing Facility is a mechanism for export promotion. The supplier/exporter is provided financing by BSTDB against deferred payment receivables, either directly from BSTDB (Single Supplier Refinancing Facility) or via a qualified financial intermediary (Multiple Supplier Refinancing Facility). The Facility enables companies in the Member Countries to enter markets with medium- and long-term supplier credits that would otherwise be closed without such financing.
Purpose
BSTDB will accept requests for providing Guarantees with the aim to guarantee the payment obligation of a selected financial intermediary in a Member Country for export finance loans extended by international banks, typically an IFI or national financial institution/agency.
Description
Such guarantees will be issued to cover the country risk and commercial risk of a financial intermediary to enable them to obtain external financing in competitive terms, which otherwise would not be available without BSTDB’s guarantee.
BSTDB provides Import Financing typically through financial intermediaries to buyers/importers in a Member Country to finance multiple contracts for imports of commodities, capital goods and manufactured products.
These loans are provided to increase competitiveness of goods produced in Member Countries and may improve the competitive position of manufacturing exporters in the region. To compete effectively, Member Country exporters are quite often called to offer buyers financing at par with the financing offered by competitors outside the BSTDB region.
Purpose
This facility provides financial support to buyers/importers in a Member Country to enable them to import goods.
Description
The Multiple Buyer Credit Facility (MBCF) will be offered through loans extended to financial intermediaries (commercial banks, leasing companies or export credit agencies) for the purposes of providing buyer credits to numerous importers in a given Member Country. BSTDB will assume risk of the financial intermediary technically accepting the country risk and commercial risk related to the respective intermediary while the beneficiary (importer) risk will be taken by the financial intermediary. Both pre-shipment and post-shipment periods are covered under this facility for short- and medium-term transactions.
Purpose
To provide medium- and (in exceptional cases) long-term financial support to Member Country beneficiaries (buyers/importers) requiring large-value supply contracts and purchases of industrial machinery and other capital goods.
Description
BSTDB provides a Single Buyer Credit Facility to a financial intermediary, through which a sub-loan would be provided to the buyer – in this case the financial intermediary would assume the buyer risk and BSTDB would assume the country risk and the commercial risk of the financial intermediary.
The minimum amount required for a Single Buyer Credit Facility is SDR 3.5 million. In the event a buyer wishes BSTDB Buyer Credit support for an amount of less than SDR 3.5 million, an application should be submitted under the Multiple Buyer Credit Facility.
Purpose
Import Finance Guarantees are a substitute for provision of credit intended to help increase trade volumes among Member Countries by providing country risk and commercial risk cover on acceptable short-term trade finance instruments of issuing banks in Member Countries.
Description
BSTDB assumes payment risk (country risk and/or commercial risk) of the bank issuing the trade finance instrument, either in full or up to an agreed percentage. BSTDB will normally encourage risk-sharing with confirming banks and trim its pricing according to the amount of risk being assumed by the confirming bank.
BSTDB offers to eligible financial intermediaries the possibility to apply and obtain Combined Trade Finance Facilities (CTFF) enabling them to provide credits to both suppliers/exporters and buyers/importers under a single loan agreement.
In the CTFF structure, BSTDB will combine the Pre-export Facility and Multiple Buyer Credit Facility under a single limit extended to the selected financial intermediary and the relevant CTFF agreement will establish all terms and conditions of the facility. Terms and conditions and use of funds under CTFF will replicate Pre-export Facility and Multiple Buyer Credit Facility characteristics.
Eligible SME sub-borrowers must:
- have no more than 250 employees, excluding seasonal workers
- have annual turnover of not greater than €50,000,000 or net assets of not greater than €43,000,000
- not have any direct or indirect shareholder, either domestic or foreign-based, that holds legally or beneficially more than 25% of its share capital and that has more than 250 employees, excluding seasonal workers
- not have any Affiliate that has more than 250 employees
- not be majority-owned or controlled by the national or local government or government agencies
- not be adjudged bankrupt or insolvent, or ordered to wind up or liquidate its affairs, by a decree or order entered against it by a court
- Provide financial support at affordable terms to fast growing small and medium-sized companies in manufacturing, food processing, transportation, construction, telecommunication and hi-tech sectors, market and social services
- Increase export capacity
- Promote job creation and revenue generation
- Increase competitiveness of firms in the member countries
- Promote intra-regional investment
- Facilitate know-how and technology transfer
- Mobilize external capital to the region
- Facilitate networking
- Improve financial sector ability to deal with and supply financing to SMEs
- Credit Guarantee Funds
- Microfinance/SME Specialized Financial Institutions
- Venture Capital/Equity Investment Funds
- Leasing
- Credit Lines through selected Financial Intermediaries
- CREDIT GUARANTEE FUNDS
- MICROFINANCE/SME SPECIALIZED FINANCIAL INSTITUTIONS
- VENTURE CAPITAL/EQUITY INVESTMENT FUNDS
- LEASING
- CREDIT LINES THROUGH SELECTED FINANCIAL INTERMEDIARIES
- FINANCING PROGRAMMES
These are profit-maximizing private sector ventures benefiting of financial support and technical assistance from donor institutions and governmental agencies. They provide maximum benefit when they reflect a genuine public–private partnership (governments demonstrating commitment to the development of a strong SME sector).
Microcredit organizations in BSTDB member countries need a combination of capacity-building, funding, policy development and performance-based objectives to develop into professionally managed, permanent and self-sustainable institutions.
BSTDB makes equity investments in SMEs through specialized investment vehicles. Venture Capital/Equity Investment Funds benefit of certain economies of scale, especially in the form of lower costs, more regional approach, and increased synergies among the recipient companies, which result in increased regional co-operation.
Financial Leasing is an effective financing instrument in cases of companies with limited capital base and insufficient credit history. Leasing is an effective instrument to provide medium- to long-term financing to SMEs in places where there is in place a conducive regulatory environment. It is a useful instrument to replace medium- to long-term loans for purchases of equipment and technology. BSTDB has been providing credit lines to leasing companies for leasing of investment goods to SMEs and may consider taking equity positions in leasing companies when deemed appropriate.
Credit Lines have the purpose to provide selected banks with medium-term capital not available in the market and to encourage the establishment of a long-term relationship between banks and SMEs.
Financing is provided in the form of loans (credit lines) through client commercial banks and leasing companies, incorporated in the respective member country with a large branch network and prior good quality experience in SME financing. The borrower will be the participating financial intermediary.
Sub-loans are provided by the intermediary to SMEs on commercial basis terms and their maturity cannot exceed the remaining time to maturity of the credit line.
Through an agreement between the European Investment Bank and the Black Sea Trade and Development Bank (BSTDB), the two development banks are jointly supporting small and medium-sized businesses (SMEs) and small projects carried out by enterprises having less than 3,000 employees (MidCaps) in Bulgaria, Greece and Romania by providing access to an invaluable source of lower cost finance and flexible repayment schedules.
Financial sector development
In order to promote economic development, it is of particular importance to Member States to foster the development of their market institutions and provide a level playing field to all market participants. Provision of medium-term finance by BSTDB and additional mobilization of domestic and foreign capital represent a significant contribution towards reducing the difficulties enterprises, in particular SMEs, face in accessing medium- to long-term finance. Thus, BSTDB will help selected financial institutions strengthen their balance sheet, match better assets with liabilities, diversify client base, improve portfolio quality.
The BSTDB dealings with financial institutions have three dimensions:
- partners (co-financiers)
- vehicles (intermediaries) and
- clients (borrowers and investees).
Bank operations in the financial sectors of Member States encompass two different approaches, each with its specific set of objectives:
- Creation/Strengthening of specific types of financial institutions
- Promotion of selected sectors or activities.
General terms and conditions for Loans, Guarantees, and Equity are applicable to transactions in the financial sector as appropriate.
Special funds for technical assistance
BSTDB, in accordance with its mandate, aims to play a catalytic role in the greater Black Sea region for both public and private sector operations consistent with its dual mandate.
The purpose of Special Funds is to:
- increase the impact of Donor activities
- provide alternative route for raising funds - diversify obligations exposure
- harmonize procedures and consistency of approach
- establish working relationships with entities interested in BSEC
- offer opportunity to innovate - pilot projects, complex ventures, experiments with lengthier time horizons, etc.
Special Funds currently administered by BSTDB are:
- A Technical Cooperation Special Fund funded by the government of the Hellenic Republic in the amount of EUR 800,000 and administered by BSTDB (established in 2001)
In addition to the above, as of 2017 the BSTDB benefits from the Black Sea Project Promotion Facility (BSPPF) funded by the Government of the Russian Federation in the amount of USD 1,000,000, half of which is available for BSTDB uses and half for use by the Permanent International Secretariat of the Black Sea Economic Cooperation (BSEC PERMIS). The Facility is administered by BSEC PERMIS acting through an independent Manager and is supervised by a Steering Committee comprised of the Donor, BSTDB, and BSEC PERMIS representatives. 50% of the Facility is tied to the use of consultants and service providers from the Russian Federation as currently the only donor country of the Facility.
The Hellenic Fund
Eligible beneficiaries are private sector entities in BSTDB Member States.
The eligible uses include:
- upgrade feasibility studies
- accounts conversion to IAS
- Business Plan assistance
- focused TA for sensitivity analysis
- 75% tied to use of Greek firms / consultants
The Black Sea Project Promotion Facility
Eligible uses under the BSTDB part of the Facility include technical assistance assignments to assist in the development of bankable projects by potential recipients of BSTDB financing in the areas of:
- preparation of pre-feasibility and feasibility studies
- preparation, finalization, or reformatting of business plans
- preparation of financial accounts
- legal, technical, and environmental due diligence
For eligible uses under the BSEC PERMIS part of the Facility, please refer to: http://www.bsec-organization.org/Pages/black-sea-project-promotion-facility.aspx
The Terms and Conditions for each Fund are determined in the legal agreements between the donor and BSTDB.
Co-financing
One of the key tasks of BSTDB is to mobilize foreign and local capital, both public and private, for loans and guarantees in its countries of operation. Co-financing is one of the most effective ways to mobilize such funds, since co-financiers can take full advantage of the Bank’s advisory capacity, its financing and project evaluation activities as well as its in-depth knowledge of the economic strategies of its countries of operation.
BSTDB interacts with a variety of other lenders including multilateral development banks, bilateral financial institutions, export-credit agencies, official lenders or guarantors, commercial banks, and other financial intermediaries. Examples of the different forms of interaction with other lenders include:
- Joint Co-financing
- Parallel Co-financing
- Participations
- Syndications
- Assignments
Co-financing, especially from private sources, often results in borrowers obtaining financing to which they would not normally have access and in negotiating more favourable terms (e.g. lower interest rates or fees or longer maturates) from other lenders.
BSTDB, as an international financial institution, expects to be considered a preferred creditor. In its lending transactions, BSTDB should normally rank at least equal to other lenders
Financing programmes
EUR 100 million financing programme for SMEs in Bulgaria, Greece and Romania
Through an agreement between the European Investment Bank and the Black Sea Trade and Development Bank (BSTDB), the two development banks are jointly supporting small and medium-sized businesses (SMEs) and small projects carried out by enterprises having less than 3,000 employees (MidCaps) in Bulgaria, Greece and Romania by providing access to an invaluable source of lower cost finance and flexible repayment schedules.
The loans to SMEs and MidCaps can be used to finance a variety of investments up to a maximum project cost of EUR 50 million. The term of the loan will depend on the economic and technical parameters of the project, but cannot be less than 2 years.
- Independent SMEs with less than 250 employees prior to investment, based in one of the 27 EU Member States
- Independent MidCaps with less than 3,000 employees prior to investment, based in one of the 27 EU Member States
- All economic sectors are eligible with few exceptions, amongst which production of weapons and ammunition, arms, military or police equipment or infrastructures, and equipment or infrastructure limiting people’s individual rights and freedom, gambling, tobacco-related industries, activities involving testing on animals insofar as not in compliance with the “Council of Europe’s Convention for the Protection of Vertebrate Animals used for Experimental and other Scientific Purposes” or whose environmental impact cannot be mitigated or offset, ethically or morally controversial sectors such as human cloning and pure property speculation
The loan can be used to finance all investments and expenditures that are incurred in the development of an SME or a MidCap i.e.:
- Tangible investments: purchases of plant and equipment, with some exceptions concerning land purchases
- Intangible investments: particularly the expenditure involved in R&D, building up or taking over distribution networks in domestic or other markets within the EU, taking out or buying patents, buying out a company in order to safeguard economic activity (for a buy-out cost of no more than EUR 1 million)
- Medium- and long-term working capital requirements to re-establish businesses’ general liquidity ratio
- You can receive beneficial interest rates compared to standard business lending rates
- You can negotiate the term or repayment frequency of the loan to suit the circumstances and cash-flow requirements of your business
- You can invest significantly in your business without adversely affecting your cash flow or liquidity
The loans provided under the joint EIB-BSTDB SME Programme are channelled through BSTDB. Therefore, BSTDB will examine all loan applications and decide whether or not to grant the loan.
You shall agree that (a) upon reasonable notice you will permit representatives of the EIB and/or BSTDB to inspect all sites, installations and works that comprise the project which is the subject of the loan; and (b) following a request by the EIB, BSTDB may share with EIB the information provided by you in the framework of your loan application.
Eligible SMEs and MidCaps from Bulgaria, Greece and Romania are invited to contact the following BSTDB departments by sector to discuss their projects, make loan applications and provide the required information:
General industries, transport, tourism and agriculture
Greece: Leonid Sidorenko, tel. +30 2310 290559, gitt1@bstdb.org
Bulgaria and Romania: Orhan Aytemiz, tel.+30 2310 290439, gitt2@bstdb.org
Energy and Infrastructure
Bulgaria, Greece, Romania: Roman Matkiwsky, tel. +30 2310 290441, energy&infrastructure@bstdb.org
