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Working with Black Sea Trade & Development Bank. VIENNA ECONOMIC FORUM Go South East – Invest in Moldova – Invest in the Region Chisinau Meeting – 20/21 February 2008. BSEC Members - Shareholders of BSTDB. Ukraine. Russia. Moldova. Georgia. Azerbaijan. Romania. Bulgaria. Armenia.

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Working with Black Sea Trade & Development Bank

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Working with black sea trade development bank

Working with Black Sea Trade & Development Bank

VIENNA ECONOMIC FORUMGo South East – Invest in Moldova – Invest in the Region

Chisinau Meeting– 20/21 February 2008


Bsec members shareholders of bstdb

BSEC Members - Shareholders of BSTDB

Ukraine

Russia

Moldova

Georgia

Azerbaijan

Romania

Bulgaria

Armenia

Albania

Turkey

Greece


Bstdb objectives

BSTDB objectives

  • Facilitation of trade and investment activities among Member Countries

  • Promotion of economic prosperity in Member States and a strong developmental impact

  • Mobilization of domestic and foreign capital


Bstdb in 2007

BSTDB in 2007

  • Portfolio (outstanding) – US$ 745*million

  • Portfolio growth – 64 %

    ____________________________________________________________________________________________________

  • Moldova – US$ 17.4* million (2.35%)

  • Growth – 3.7 times

    *- preliminary estimates


Bstdb products

BSTDB Products

  • Project finance

  • Corporate lending

  • Asset-based finance

  • Syndicated loans

  • Trade finance

  • Equity investments


Bstdb lending

BSTDB Lending

  • Up to US$ 36.6 million BSTDB participation

  • Up to 35% of the total project costs

  • Medium to long term maturity depending on type and structure of project

  • Pricing and grace period subject to appraisal and valuation


Equity

Equity

  • Up to US$ 10 million BSTDB participation

  • Minority stake (generally less than 25% and not more than 33% of total equity).

  • No direct participation in company management

  • Probable seat on the Board of Directors

  • Possible Put option for BSTDB exit


Why bstdb

Why BSTDB?

  • Stringent but quick approval process

  • Ability to process “small” projects

  • Team blending international and local expertise

  • No political or macroeconomic conditionality attached to the financing


Bstdb project cycle

Eligibility Review

Concept Clearance

Credit Committee Approval

Board Approval

Disbursement

Signing

BSTDB Project Cycle


Maturity of bstdb loans

Maturity of BSTDB loans

  • Typical 2 - 7 years

  • Possible up to 10 years

  • In exceptional cases more than 10 years


Bstdb security requirements

BSTDB security requirements

  • Standard pledge of shares, assets, corporate/parent guarantees, etc. depending on the project

  • In a cross-boarder investment, the security can be based in the country of investment

  • While possible, sovereign guarantee is not required

  • Unsecured transactions


What is the minimum project size bstdb would consider

What is the minimum project size BSTDB would consider?

  • Project Size - $10 million

  • BSTDB participation - $3 million


Non eligible goods

Weaponry or military goods

Tobacco and alcohol related products

Negative list of relevant countries

Negative list of United Nations economic sanctions

Negative list of World Bank

Non-Eligible Goods


Eligibility criteria

Eligibility Criteria

  • last 2 - 3 years financial statements audited by international auditors;

  • has adopted International Accounting Standards;

  • have acceptable financial and operational performance,


Thanks from the banking division of bstdb www bstdb org

Thanks from

the Banking Division of BSTDB

www.bstdb.org


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