Turkey’s national export agency, Türk Eximbank, has secured a $45 million loan from the Black Sea Trade and Development Bank (BSTDB) in a bid to expand its contribution to the country’s exporters, Anadolu Agency (AA) reported on Monday.

“This new facility aims to extend BSTDB’s support to more exporting companies in Turkey, thereby promoting the growth of the sector nationwide,” BSTDB said in a recent statement.

BSTDB is an international financial institution headquartered in the Greek city of Thessaloniki and was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia , Turkey and Ukraine.

BSTDB started operations in June 1999 and supports economic development and regional cooperation in the Black Sea region through commercial loans and project financing, guarantees and equity participations in private companies and public entities of member countries.

Türk Eximbank General Manager Ali Güney, whose opinions were included in the statement, said that he was very satisfied with the growing continuation of their long-standing cooperation with the Black Sea Trade and Development Bank .

“We believe that this agreement, which aims to improve regional trade, will further strengthen the fruitful relations between our institutions,” Güney said.

“As a leader in export financing in Turkey, Türk Eximbank will continue to contribute to the competitiveness of Turkish exporters in the international arena by providing favorable financial support in terms of maturity and cost,” he added.

“On this occasion, I congratulate the 25th anniversary of the establishment of the Black Sea Trade and Development Bank and wish it continued success and cooperation.”

Upon signing the loan agreement, Serhat Köksal, President of BSTDB said: “We are delighted to once again partner with Türk Eximbank, our trusted partner since 2000, to strengthen export capabilities of Turkey and stimulate regional economic growth. Exports are the cornerstone of Turkey’s economic growth. economy and play a crucial role in the economic vitality of the Black Sea region.

The AA report stated that this was a 2 year term loan agreement.

Türk Eximbank was established in 1987 as Turkey’s official export credit agency and began implementing its programs in early 1988. Turk Eximbank serves the financial needs of export sectors based developments in the global and Turkish economies.

The Sabah Daily News Bulletin

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