On 21 March the Black Sea Trade and Development Bank  (BSTDB) delegation headed by  the Bank President Andrei Kondakov visited the National Bank of Georgia.

The visit aimed at defining major partnership priorities for 2011-2014. During the meeting with the bank authorities the guests were presented with the economic and financial trends of 2010.  With the aim to support private sector the Black Sea Trade and Development Bank is going to cooperate actively with local commercial banks and representatives from financial sector. The Black Sea Trade and Development Bank is interested to finance financial sector, energy, production and infrastructure. 

Black Sea Trade and Development Bank President Andrei Kondakov and National Bank Vice-President, Archil Mestviriashvili held a joint press conference after the meeting. 

" Black Sea Trade and Development Bank” is created by Black Sea regions, the major function of which is to finance the projects supporting trade between the regions as well as development of infrastructure, agriculture and energy sectors. During the recent years the bank financed projects with the value of  more than 50 mln Euro and is expected to invest about 30-40 mln Euro in the coming 4 years, the Vice -President of the National Bank, Archil Mestviriashvili stated. 

During its existence Black Sea Trade and Development Bank financed 15 projects with total 50 Mln Euro in Georgia. The objective of the current mission is to develop a strategy for 2011-2014, which means to create better development framework for business in Georgia. We believe because of the improved economic situation there will be more business opportunities for us and our time will be completely devoted to the relations with potential clients in Georgia. We are discussing additional financing opportunities as well,” Black Sea Trade and Development Bank President Andrei Kondakov stated.

Today Black Sea Trade and Development Bank  President will meet the representatives of the banking sector and businessmen as well.

Black Sea Trade and Development Bank  was created in 1994 with headquarters in Salonik. The major goal of the bank is  to finance regional projects and programs, promote trade among the member countries and economic development of the Black Sea Region.  Georgian commercial Banks (TBC, ProCredit Bank, VTB and Cartu Bank) are already using the lines of credit of this bank. Moreover, there are Pipeline projects of Poti Seaport and BSTDB in Georgia.