Home Who we are Who we are The Black Sea Trade and Development Bank (BSTDB), an international financial institution with headquarters in Thessaloniki, Greece, was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB started operations in June 1999 and has authorized capital of €3.45 billion. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries. BSTDB is rated A-/A-2 by Standard & Poor’s, and A2/P1 by Moody's. Regional Focus Supporting investors and companies in the 11 member countries Financial Products Mainly mid-term to long-term loans, equity investments and guarantees Capital Base Increased by governors to EUR 2.45 billion in Dec 2007- exclusively dedicated to the countries of the Black Sea Region Special Programs To support SMEs and trade financing (mostly via local financial intermediaries) Credit Rating BSTDB is rated “A-” by Standard and Poor’s and “A2” by Moody's Flexibility Combining resources of a developmental bank with the flexibility of a commercial institution Key Events & Facts 2020 July BSTDB switch tender and tap of 3.5% notes due June 2024 2019 February BSTDB adopts ambitious Strategy and Business Plan for 2019-2022 March BSTDB receives a rating outlook upgrade from S&P to A- Positive June BSTDB issues a USD 400 million bond to support portfolio growth August BSTDB becomes the first IFI to issue a local currency bond in Azerbaijan 2018 February BSTDB signs memorandum of cooperation with the Eurasian Development Bank July BSTDB signs cooperation agreement with the OPEC Fund for International Development 2017 June BSTDB grants Observer Status to the Asian Development Bank (ADB) December BSTDB Joins Global Enhanced Climate Action 2016 April Inaugural Benchmark USD 500 Million Bond Issue 2015 May CHF 100 million 4.5 year bond issue May BSTDB established a EUR 1 billion Euro Medium Term Note programme 2014 February BSTDB credit rating upgraded to A2 by Moody's 2012 September BSTDB issues CHF 200 million bond 2011 June BSTDB receives issuer credit ratings from Standard & Poor’s: “A” long term and “A-1” short term; outlook stable June BSTDB grants Observer Status to the European Bank for Reconstruction and Development (EBRD) September BSTDB grants Observer Status to the Vnesheconombank (VEB), Russian Development Bank 2010 September BSTDB credit rating upgraded to A3 by Moody's 2009 May First bond issue 2008 October BSTDB grants Observer Status to the Nordic Investment Bank October Technical Cooperation Special Fund established with the Development Bank of Austria October Additional BSTDB shares worth SDR 1 billion (appx. USD 1,5 billion) fully subscribed and allocated by existing shareholders June BSTDB grants Observer Status to the European Investment Bank, Development Bank of Austria and the Association of European Development Finance Institutions 2007 December Shareholders decide to increase the authorised capital of the Bank from SDR 1 billion to SDR 3 billion (approx. USD 4,8 billion) 2006 October BSTDB credit rating upgraded to Baa1 by Moody's May BSTDB grants observer status to KfW Banking Group (Germany) 2004 March The Bank obtains from Moody’s Investors Service initial investment grade ratings of long term Baa2 and short term rating of P2 May First syndicated borrowing from international commercial banks 2000 March Treasury Operations May Observer Status World Bank 1999 June Start of Operations December First Project Signed 1998 February Inaugural Meeting 1997 January BSTDB Agreement 1992 June BSEC Established Public documents © 2021 The Black Sea Trade and Development Bank Follow us: Contact details: 1 Komninon str., 54624, Thessaloniki, Greece Phone: (+30 2310) 290400 Fax: (+30 2310) 221796, 286590 info@bstdb.org Apply for financing BSTDB at a glance Work with us News and Media FAQ REPORT COMPLAINTS, FRAUD AND CORRUPTION Terms and Conditions Privacy