BSTDB awaits details of Green Deal from EU for preparation of products to member countries, especially Turkey, Ukraine, Russia – bank president

Thessaloniki. Aug 28 (Interfax-Ukraine) – The Green Deal of the European Union will have a very serious impact on the member countries of the Black Sea Trade and Development Bank (BSTDB, Thessaloniki, Greece), especially for countries such as Turkey, Ukraine and Russia, said Bank President Dmitry Pankin.

"We do not yet have the final details [from the EU]. When they are clear, we should be ready to provide many products to our members," he told reporters at a conference in Thessaloniki, which takes place on August 27-28.

Pankin said that export-oriented sectors, including those to the EU, such as the production of steel and raw materials, are at risk.

The President of the bank added that in general, within the framework of the strategy approved this summer until 2030, the BSTDB is coordinating its work with the UN Sustainable Development Goals, increasing funding for environmental projects, including developing external partnerships and attracting a rapidly growing class of "green" investors.

BSTDB is an international organization uniting 11 states of the Black Sea Economic Cooperation organization. The shares of Turkey, Russia and Greece in the capital are 16.5% each, Romania – 14%, Ukraine and Bulgaria – 13.5% each, Azerbaijan – 5%, Albania – 2%, Armenia – 1%, Georgia and Moldova – each 0.5%.

The bank aims to promote economic cooperation, trade and cooperation of the countries of the Black Sea region.

The bank’s paid up authorized capital is EUR 0.69 billion, and its long-term credit ratings are "A-" from S&P and "A2" from Moody’s.