Economy 2020.03.24

BSTDB to assist sectors, industries most affected by COVID-19 infection

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The Black Sea Trade and Development Bank (BSTDB) intends to refocus its financing of approximately 900 million euros, planned for new operations in 2020, to assist the sectors and industries most affected by the turmoil caused by the COVID-19 infection, BSTDB told Trend.

“In these difficult times the BSTDB is sympathetic to the efforts our Member States make to contain the spread of the coronavirus and reduce the negative impact it has on human lives, societies and economic activity. BSTDB is committed to make best efforts to continue supporting our clients and Member Countries,” said the Bank.

In the current critical conditions and changes in market perceptions of risk and liquidity, the Bank continues to assist the small and medium sized enterprises, the most vulnerable segment of companies, and to provide support that its Member Countries and businesses need.

“We will offer additional technical assistance to affected clients to facilitate project preparation, including business plans, feasibility studies, environmental impact assessments, etc. The Bank will focus on assisting municipalities, utilities, manufacturing and pharmaceutical companies being on the front line of the fight against COVID-19,” said BSTDB.

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