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.