Black Sea Trade and Development Bank intends to increase the portfolio of activities in Moldova

The Black Sea Trade and Development Bank (BSTDB) plans according to the recently approved business plan for 2007-2010, to increase by USD 30 mln the portfolio of activities for Moldova. The Bank intends to develop investment activities in the areas of food and processing industry, retail and trade in real estate. On June 18, 2007 BSTDB will hold its Black Sea Business Day conference in Chisinau, on the occasion of the Annual Meeting of the BSTDB Board of Governors. The participants will discuss such issues as the role of international financial institutions in economic growth, especially in infrastructure, development of the financial sector, support to small and middle scale business, environment, as well as of the foreign investments. It is expected that crediting agreements will be signed between BSTDB and the Moldova economic entities. The forum will be attended by Moldovan high officials, representatives of the International Financial Institutions, business people from the countries participating in the Black Sea Economic Cooperation Organisation and director of BSTDB in Albania, Greece, Azerbaijan, Armenia, Georgia, Ukraine, Russia, Moldova, Romania, Turkey and Bulgaria. Starting 2002, BSTDB offered to Moldova, by means of local banks, credits to the total sum of about USD 10.5 mln. The Bank was created by 11 member-countries of the Black Sea Economic Cooperation – Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine, as a financial instrument for the support of development projects for the Black Sea region and transforming it into a zone of security and prosperity.