The issues of deepening cooperation and participation in recovery projects were discussed during an online meeting between First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko and President of the Black Sea Trade and Development Bank (BSTDB) Dr. Serhat Köksal.

“Despite the fact that the hostilities are still ongoing, Ukraine, together with its partners, is working on a plan and mechanisms for the restoration of our country. And we hope that the Black Sea Trade and Development Bank will join the restoration projects,” said Yuliia Svyrydenko.

In turn, President of the Black Sea Trade and Development Bank Dr. Serhat Köksal noted that the bank was interested in such participation. According to him, a decision was made to establish a working group that would focus on Ukraine.

The meeting was also attended by Deputy Minister of Economy – Trade Representative of Ukraine Taras Kachka.

The parties agreed to identify specific projects that could be financed by the BSTDB and start their detailed elaboration. As it was noted during the meeting, both Ukraine and the Black Sea Trade and Development Bank are interested in practical implementation of the projects as soon as possible.

For reference

The Black Sea Trade and Development Bank was established by the countries of the Black Sea region, including Ukraine, in 1999. Its authorized capital is EUR 3.45 billion.

The Bank supports economic development and regional cooperation in the Black Sea region through trade and project finance, guarantees and equity participation in private enterprises and public institutions in the member countries.

Over the course of its activity, the BSTDB Board approved participation in 53 projects in Ukraine totaling EUR 963.5 million. 52 agreements in the amount of EUR 927.9 million have already been signed, 49 projects worth EUR 914.2 million have been financed.