Türkiye's state export agency Türk Eximbank secured a $45 million loan from the Black Sea Trade and Development Bank (BSTDB) intending to extend contribution to exporters in the country, Anadolu Agency (AA) reported on Monday.
"This new facility aims to expand BSTDB’s support for more exporting companies in Türkiye, fostering the sector growth nationwide," the BSTDB said in a recent statement.
BSTDB is an international financial institution with headquarters in the Greek city of Thessaloniki and was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye and Ukraine.
BSTDB started operations in June 1999 and supports economic development and regional cooperation in the Black Sea region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries.
Türk Eximbank General Manager Ali Güney, whose views were included in the statement said that they were very pleased with the increasing 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 enhance the ongoing successful relations between our institutions," Güney said.
"As the leader in export finance in Türkiye, Türk Eximbank will continue contributing to Turkish exporters’ competitive strength in the international area by providing favorable financial support in terms of both 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, BSTDB president said: "We are delighted to team up once again with Türk Eximbank, our trusted partner since 2000, to strengthen Türkiye’s export capabilities and drive the regional economic growth. Exports are a cornerstone of Türkiye’s economy and play a crucial role in the economic vitality of the Black Sea region."
The AA report noted it was a 2-year term loan agreement.
Türk Eximbank was established in 1987 as Türkiye’s official export credit agency and began to implement its programs at the beginning of 1988. Turk Eximbank meets the financial needs of export sectors in line with the developments taking place in the global and Turkish economies.
