Black Sea Bank confirms loans to Albania.

TIRANA, June 15ؔhe Black Sea Trade & Development Bank (BSTDB), an international financial institution created 10 years ago, will provide loans for public projects in its member countries, including Albania.
“Financing will be provided mainly for projects in energy, infrastructure, and small enterprises,” Hyrettin Kaplan declared, BSTDB President.
Black Sea Bank is based in Thessaloniki, Greece, and includes 11 member countries; Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Turkey, Russia, Romania, and Ukraine. It supports economic development and regional cooperation by providing loans and banking guarantees to financial projects within public and private sectors in its member countries.
Its latest capital growth amounted to 4.85 billion USD, an indicator used by Moody to rank BSTDB among the banks in a good position in the present and in the future.
“We separate strategies for every member country, which were designed after our representatives visited each country,” Kaplan said
Regarding Albania, last year BSTDB provided a 20 million euro loan to Kurum, a Turkish steel company operating in Elbasan, and another 25 million euros for the development of Albtelekom, the main telecommunications operator in the country.