THE BLACK SEA TRADE AND DEVELOPMENT BANK, CO-FOUNDED BY MOLDOVA, INCREASED ITS CAPITAL TO 3.1 BILLION EUROS

The Black Sea Trade and Development Bank (BSTB), co-founded by Moldova, has increased its capital by 35%, bringing it to 3.1 billion euros. The bank's press service told INFOTAG that the capital increase is meant to “stimulate the regional development” of the Black Sea countries.

The report said that the capital increase will increase the bank's financial capacity, allowing it to offer a wider range of financial instruments to solve regional problems.

Osman Celik, Turkey's Deputy Minister of Treasury and Finance and Chairman of the Bank's Board of Governors, proudly announced that BSTB has successfully increased its capital, strengthening its mandate to support the development of the Black Sea region.

“The capital increase marks an important milestone, enabling the bank to address regional challenges and provide the financial resources needed to foster growth and prosperity in the Black Sea region,” said Osman Celik.

BSTB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, Ukraine and Georgia. The bank is headquartered in Thessaloniki, Greece.