Ukraine hopes till the end of the year to hold a Special meeting of the BSTDB Business forum in Odessa

Украина надеется до конца года провести Специальное совещание и Бизнес-форум ЧБТР в Одессе

Deputy Minister of economic development, trade and agriculture of Ukraine — sales representative of Ukraine Taras Kachka, invited the Board of governors of the black sea Bank of trade and development (BSTDB) at a Special meeting of the BSTDB Business forum this fall in Odessa, said in a statement by the economy Ministry on Monday.

In turn, the release of the Bank on its website said that the governing Council will consider the possibility of conducting these annual events in Odessa until the end of this year depending on the development of the pandemic.

As reported, the Odessa was to take the BSTDB annual meeting and business forum of the Bank last week, however, due to coronaries business forum was postponed and the meeting of the governing Council was held in format of teleconference under the chairmanship of Ukraine.

The Board discussed the operational activities of the Bank and approved the financial statements for the year 2019, which was the first year of the implementation of the BSTDB medium-term strategy (2019-2022), was aimed at a significant expansion of the loan portfolio and contribution to the development process of member countries of the Bank.

During the meeting it was noted that during the reporting year, the Bank achieved a record performance in conditions of high competition on the market. In particular, the Bank approved 32 new projects totalling more than EUR1 billion, or almost 87% more than in 2018. The volume of signed projects exceeded EUR842 million, and payments on loans reached EUR872 million, an increase of 52% compared to the year 2018. The design portfolio of the Bank by the end of 2019 exceeded EUR1,85 billion, reads a Bank release.

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According to him, the Bank registered net profit for the 16th consecutive year, which amounted to EUR13,66 million – 2.6 times higher than a year earlier, and will be sent to the reserve to support operating activities of the Bank.

In addition, the Board of governors supported the policy of the Bank to support the emergency measures taken by member States to minimize the negative impact of the pandemic and promote economic growth in the most affected sectors, including health, key infrastructure in other areas, as well as small and medium-sized enterprises.

According to the annual report Bank over the past year the amount of Ukrainian projects in the Bank’s loan portfolio grew from EUR60. 3 million to EUR164,6 million, and their share increased from 4.4% to 8.9%, while the share of Ukraine in the equity of 13.5%.

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BSTDB is an international organization that unites 11 countries of the black sea economic cooperation. Share Turkey, Russia and Greece in the capital account for 16,5%, Romania – 14%, Ukraine and Bulgaria – 13.5%, Azerbaijan — 5 percent, Albania with 2%, Armenia – 1%, Georgia and Moldova – 0.5%. The Bank aims to promote economic cooperation, trade and cooperation of the countries of the black sea region.