All agreed loans

International. Black Sea Trade and Development Bank

Date of loan: 9 Jun 2011
Country: International
Customer: Black Sea Trade and Development Bank
Amount in EUR: EUR 30 million
Maturity: 10 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Environmental effect

This loan contributes to climate change mitigation: 70%

Project

The 10-year-maturity loan programme totalling EUR 30 million has been provided for onlending to projects aimed at reducing greenhouse gas emissions in the Black Sea Trade and Development Bank's (BSTDB) member countries. At least 70% of the loan programme is to be allocated for this purpose. Sub-projects fulfilling NIB's environmental mandate are expected to be implemented in the sectors of renewable energy, energy efficiency and energy saving as well as public transportation. The remaining part of the loan programme is to be allocated to projects involving enterprises from NIB's member countries, complying with NIB's competitiveness mandate.

The BSTDB is an international financial institution of Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The bank supports economic development and regional cooperation by providing trade and project financing, guarantees, and equity for development projects supporting both public and private enterprises in its member countries.

Fulfilment of NIB's mandate

By contributing to reducing greenhouse gas emissions in the BSTDB's member countries, this loan programme complies with the Bank's environmental mandate. The loan to the BSTDB is in line with NIB's strategy to co-finance through other IFIs.

Sustainability summary

A minimum of 70% of the proposed loan programme will be allocated to eligible environmental projects. The BSTDB has an environmental policy and procedures in place. Under the loan programme, individual sub-projects will be assessed for the allocation of financing.