Enhanced Capital Strength for BSTDB to Boost Regional Development
The shareholders concluded and approved the Bank’s Second Capital Increase.
The Board of Governors of the Black Sea Trade and Development Bank (BSTDB) has completed the subscription process for the Bank’s second capital increase during a special meeting held today in Ankara, Türkiye. Following the successful full subscription and allocation of the offering to its shareholders, BSTDB’s capital base has been raised by 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 instruments to address critical regional challenges, thereby driving further growth and prosperity in Black Sea member countries.
Mr. Osman Çelik, Deputy Minister of Treasury and Finance of the Republic of Türkiye and Chair of the Board of Governors stated: “I am proud to announce that the Black Sea Trade and Development Bank has successfully increased its capital, reinforcing its mandate to support the development of the Black Sea region. This capital increase marks a significant milestone, equipping the Bank to tackle regional challenges and continue providing essential financial resources necessary to drive growth and prosperity in the Black Sea region.”
Commenting on the decision, Dr. Serhat Köksal, BSTDB President, said: “I would like to thank our shareholders for their continued support and commitment to the Bank. This capital increase is a testament to the confidence our member countries have in BSTDB's ability to deliver on our mission of supporting economic development and trade in the Black Sea region. The new capital injection will empower the Bank to effectively address the most pressing challenges of our time and enable us to provide even greater support to our member countries.”
The Black Sea Trade and Development Bank (BSTDB)is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. For information on BSTDB, visitwww.bstdb.org.
Contact:
Haroula Christodoulou
Phone: +30 2310 290533
: @BSTDB
