The FINANCIAL - BSTDB and the Austrian Development Bank Cooperate to Increase Financing for the Black Sea Region

BSTDB and the Austrian Development Bank Cooperate to Increase Financing for the Black Sea Region

25/06/2012 02:02 (335 Day 01:05 minutes ago)

The FINANCIAL -- The Black Sea Trade and Development Bank and the Austrian Development Bank have concluded a loan agreement for the financing of projects of mutual interest in the Black Sea region.

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OeEB will make available a Euro 30 million loan to BSTDB for a term of 7 years. The facility will be used by BSTDB to finance private sector projects in member countries.

According to The Black Sea Trade and Development Bank, the loan agreement advances further the close institutional and business cooperation developed between BSTDB and OeEB, which has Observer Status with BSTDB since 2008. BSTDB administers a Technical Assistance Fund provided by OeEB to finance consultancy services for project preparation and professional training in the BSTDB member countries.

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