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TBILISI: Black Sea Trade and Development Bank gears up for businessd

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  • TBILISI: Black Sea Trade and Development Bank gears up for businessd

    Black Sea Trade and Development Bank gears up for business day in Yerevan
    By Messenger Staff

    The Messenger, Georgia
    June 1 2005

    On June 6 the Black Sea Trade and Development Bank will host the
    Black Sea Business Day in Yerevan, Armenia. The Business Day, a
    business conference associated with the Annual Meeting of the Board
    of Governors, will gather high-ranking officials of the BSTDB member
    states and international financial institutions, as well as prominent
    business leaders, bankers and investors from the region.

    The Black Sea Trade and Development Bank (BSTDB) is an international
    financial institution established by Albania, Armenia, Azerbaijan,
    Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and
    Ukraine.

    With an authorized capital of SDR 1 billion (approx. USD 1.325 billion)
    the bank supports economic development and regional cooperation by
    providing trade and project financing, guarantees, and equity for
    development projects supporting both public and private enterprises
    in its member countries.

    The bank says its purpose is "to accelerate development and promote
    co-operation among its shareholder countries." BSTDB supports regional
    trade and investment, providing financing for commercial transactions
    and projects in order to help member states to establish stronger
    economic linkages.

    The participants of the Business Day will discuss opportunities for
    financial sector development, assistance to SME sector development
    and the investment potential of the Caucasian Region and the role of
    international institutions. The Georgian delegation on the Business
    Day will include the Deputy Finance Minister Lasha Gotsiridze.

    The bank has SMEs financing as one of its main priorities. In January
    2005, BSTDB extended a USD 5 million Micro and SME loan facility
    to ProCredit Bank Georgia in order to benefit eligible Georgian
    enterprises and deliver medium-term financing to the Georgian market.
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