BSTDB will provide a loan worth $30 million to Trans-Oil Group - the leading trader of agricultural products and the largest producer of sunflower oil in Moldova

BSTDB will provide a loan worth $30 million to Trans-Oil Group - the leading trader of agricultural products and the largest producer of sunflower oil in Moldova

01.08.2017

As noted in the message of the Black Sea Trade and Development Bank, BSTDB's financing is intended to prepare for export of products and is part of a syndicated loan worth $170 million organized by Societe Generale, Zurich Branch with the participation of a number of banks: Arab Bank Ltd, FMO, Banque Cantonale Vaudoise, Fimbank plc and UniCredit Bank AG. The BSTDB credit facilities will be used to finance the seasonal needs of Trarns-Oil Grup in working the capital related to the harvesting, primary processing, storage and transportation of agricultural products in Moldova, and its subsequent export to other countries. BSTDB President Ihsan Ugur Delikanli stressed the importance of the signed loan agreement from the regional development prospective, noting that it will have a numerous positive impact on the economic growth, exports and employment, as well as on the strategic position of the agricultural sector for Moldova. "We are happy to join forces with other international lenders supporting the well-managed market leader”, stated the BSTDB President. Trans-Oil Group has been trading grain and other agricultural products in the Black Sea region since 1996, when the founders of the company started agribusiness in Moldova and Ukraine. Trans-Oil Group is the market leader in the production and trade of grain and oilseeds in the Black Sea region. It exports its products to various regions of Europe, the south of the Mediterranean, Turkey and north-west Africa. The Black Sea Trade and Development Bank is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The headquarters of BSTDB is in Thessaloniki (Greece). The BSTDB supports economic development and regional cooperation by providing loans, credit lines, guarantees for projects and trade financing in the public and private sectors in member countries. The authorized capital of the bank is 3.45 billion euros.