16 Dec 2019

NIB and BSTDB support green transition in south-eastern Europe

NIB and the Black Sea Trade and Development Bank (BSTDB) have agreed a new loan programme of EUR 50 million to finance sustainable investments in the Black Sea region and south-eastern Europe.

The funds of the 10-year loan facility will be used to finance environmental projects and investments that contribute to sustainable development and climate change mitigation, such as renewable energy and clean public transport projects, in the BSTDB’s region of operation.

This is the fourth loan programme signed between NIB and BSTDB.

“We have a long-standing relationship with the BSTDB, having collaborated on environmental finance and climate change mitigation since 2004. We value this cooperation, as it allows us to contribute to sustainable growth in the countries beyond our own member region”, says Henrik Normann, NIB President & CEO.

“We are pleased to join forces with the Nordic Investment Bank, one of our long-established Observers, to support environmentally sustainable investments in the Black Sea region. Protection of the environment and improvement of the quality of life are common priorities for our two banks”, said Dmitry Pankin, BSTDB President.

BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The Bank 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. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. Read more about BSTDB: https://www.bstdb.org/

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Nordic Investment Bank:

Taina Ulkoniemi, Senior Manager, Origination at+358 10 618 0231, taina.ulkoniemi@nib.int

Lisa-Maria Altenberger, Communications Officer, at +358 10618 0234, lisa-maria.altenberger@nib.int

Black Sea Trade and Development Bank:

Haroula Christodoulou, at +30 2310 290533, cchristodoulou@bstdb.org