Black Sea Trade and Development Bank will finance projects of Ukrgasbank, Galnaftogaz and Metinvest

The Black Sea Trade and Development Bank will finance four projects of Ukrainian companies: Ukrgasbank, Galnaftogaz, Metinvest and the construction of a school in Kyiv.

According to the Ministry of Economy, the bank approved the relevant projects on June 17 on the eve of the 22nd annual meeting of the board of governors, chaired by the Deputy Minister of Economic Development, Trade and Agriculture of Ukraine, Trade Representative of Ukraine Taras Kachka.

"Given the difficult period in the global economy caused by the crisis, the stable functioning of the Black Sea Trade and Development Bank and access to its finances are especially important. We welcome the fact that, despite the crisis, the bank continues to cooperate with projects with a high potential in public and private sectors, and support the economic development of member states," Kachka said.

Additional information on these projects is not yet available.

Since the bank began operating in Ukraine, 47 projects have been implemented for a total of EUR738.9 million. In particular, projects are concentrated in such areas as the consumer sector, financial institutions, industry, consumer goods, utilities, telecommunications, energy, raw materials and materials.

The Black Sea Trade and Development Bank is an international organization uniting 11 states of the Organization of the Black Sea Economic Cooperation. The bank aims to promote economic cooperation, trade and cooperation of the countries of the Black Sea region.

Source: www.en.interfax.com.ua