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The Black Sea Trade and Development Bank Conducts (BSTDB) Business Forum in Tbilisi

On June 19th, the Black Sea Trade and Development Bank (BSTDB) paid host to the regional business forum “Development of Entrepreneurship and Access to Capital”, under the auspices of the government of Georgia and the National Bank of Georgia.

Its goal was to introduce Georgia’s economic potential and priorities to international institutions and business organs.

The forum was held in the Rustaveli National Theater, and was opened with speeches from Georgia’s Prime Minister, Irakli Garibashvili, and the president of BSTDB, Ihsan Ugur Delikanli. The primary participants in the forums were representatives of various business circles of the region, international experts, and politicians. Different country experiences were exchanged during the meet and best practices were discussed.

The president of Georgia’s National Bank and the head of BSTDB from Georgia’s side, Giorgi Kadagidze, was also part of the discussions, along with the VP and Minister of Economy and Sustained Development, Giorgi Kvirikashvili. Alternative lead to BSTDB from the Georgian side, the Minister of Finance Nodar Khaduri, and the director of BSTDB from Georgia’s side, David Lezhava, also attended the meet.

The productive discussion was followed by signing agreements of partnerships between the BSTDB and Georgian finance organizations, within the frames of which the Black Sea Trade and Development Bank provided a USD 6 million loan facility to Microfinance Institution Credo LLC, a USD 10 million SME Facility to the Georgian TBC Bank, and a loan of USD 7 million to FINCA Georgia.

The Black Sea Trade and Development Bank was founded in 1994, and, incidentally, its founding agreement was signed in Tbilisi.

The BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, 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. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-“ by Standard and Poor’s and “A2” by Moody’s. For information, visit www.bstdb.org

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