The Persident of Black Sea Trade and Development Bank (BSTDB), Andrei Kondakov had a meeting with the president of the National Bank of Georgia, Giorgi Kadagidze on 28th of October to get introduced to the progress of the projects financed by the BSTDB in Georgia and discuss the issues of prospective cooperation in the future. The meeting was followed by a briefing. 

“Today’s meeting has a double importance. It gave us a chance to familiarize the President of the Bank with the economic situation in the country. Besides, we discussed the ways to enlarge the investment potential of the bank in Georgia,”- President of the National Bank of Georgia, Giorgi Kadagidze stated. 

“During the 11 years of the Bank’s presence in Georgia we were able to finance 11 projects the budget of which amounted to USD 70 mn. The portfolio of the Bank in Georgia comprises 10%, e.i. USD 30 mn, that is 2.5% of the common portfolio of the Black Sea Trade and Development Bank. There is a possibility to enlarge our activities in this direction,” – said Andrei Kondakov. According to him, the Bank will send a special mission to Georgia to preparebasis for increasing the bank’s portpholio in Georgia. It will be a precondition for financing new projects. “We hope that our Bank’s credit portpholio will become bigger in the light of financing new interesting projects, ” stated the President of BSTDB, Andrei Kondakov during the briefing today.

Today the President of BSTDB met also with the representatives of the Banking sector and businessmen.

The Black Sea Trade and Development Bank was founded in 1994 with the headquarters in Salonika. The mission of the bank is to finance regional projects, support trade among the member countries and economic development of the Black Sea Region. Georgian commercial banks (TBC, Procredit Bank, VTB and Kartu Bank) have already benefited from the credit line of the banking institution. The Bank is also finances Poti Port and Georgian Pipeline projects.