The Black Sea Trade and Development Bank (BSTDB) has issued its first Environmental, Social and Governance (ESG) notes raising 85 million USD in a private placement with an Asian investor. 

The 10-year notes, issued on the back of the BDTDB’s Medium Term Note program, will support the Bank’s priority financing of operations with clear environmental and climate benefits, such as lower carbon generation, renewables and energy efficiency.

Dmitry Pankin, BSTDB President said: “We are delighted to have issued our first ESG note – a milestone development in rising capital for supporting our Member States’ environmental and climate priorities. This placement meets the investors demand and unlocks new sources of financing for green projects.”

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. 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.