Black Sea Trade and Development Bank Reinforces Partnership with Terabank in Georgia

Strategic Insights -

The Black Sea Trade and Development Bank (BSTDB) has strengthened its partnership with Terabank JSC, a prominent financial intermediary in Georgia, by approving a new EUR 5 million five-year SME Facility and increasing its existing Trade Finance Facility by USD 2 million to USD 7 million. This dual support package aims to enhance access to finance for domestic businesses, promote institutional development of Terabank, and advance job creation, income generation, and trade expansion in Georgia. The new SME Facility will provide long-term funding to eligible small and medium-sized enterprises (SMEs) across Georgia, expected to generate additional tax revenues, create jobs, and stimulate multiplier effects across different sectors of the Georgian economy. Meanwhile, the expansion of the Trade Finance Facility will enable Terabank to extend more financing to Georgian exporters and importers, improving their competitiveness and facilitating stronger trade flows within the region and with other BSTDB Member Countries.

Key Takeaways:

  • The Black Sea Trade and Development Bank (BSTDB) has reinforced its partnership with Terabank JSC by approving a new EUR 5 million five-year SME Facility and increasing its existing Trade Finance Facility by USD 2 million to USD 7 million.
  • The new SME Facility will provide long-term funding to eligible small and medium-sized enterprises (SMEs) across Georgia, expected to generate additional tax revenues, create jobs, and stimulate multiplier effects.
  • The expansion of the Trade Finance Facility will enable Terabank to extend more financing to Georgian exporters and importers, improving their competitiveness and facilitating stronger trade flows within the region and with other BSTDB Member Countries.
  • The partnership aims to enhance access to finance for domestic businesses, promote institutional development of Terabank, and advance job creation, income generation, and trade expansion in Georgia.
  • Terabank JSC is a long-standing financial intermediary with a strategic focus on supporting small and medium-sized enterprises (SMEs) in Georgia.
  • The bank emphasizes rapid expansion, innovation, and technological advancement, with a commitment to personalized, secure, and trustworthy service.
  • The Black Sea Trade and Development Bank (BSTDB) supports economic development and regional cooperation by providing loans, credit lines, equity, and guarantees for projects and trade financing in the public and private sectors in its member countries.
  • The authorized capital of BSTDB is EUR 3.45 billion.
  • BSTDB has 11 member countries and its headquarters are in Thessaloniki, Greece.

Statistics:

  • EUR 5 million: The amount approved for the new five-year SME Facility.
  • USD 7 million: The increased Trade Finance Facility.
  • 5 years: The duration of the new SME Facility.
  • 11 countries: The number of member countries of the Black Sea Trade and Development Bank (BSTDB).
  • EUR 3.45 billion: The authorized capital of BSTDB.

Sources:

  • Black Sea Trade and Development Bank Press Release
  • www.bstdb.org
  • www.terabank.ge