Bassisbank recently received an increased amount of funding from the Black Sea Trade and Development Bank (BSTDB), bringing its total loans to $15 million.
In March 2012, the Georgian bank signed a revolving credit deal with the BSTDB that was initially $4 million. The amount was increased to $10 million in November 2013.
Funding from the BSTDB has facilitated growth in bank imports and exports, and allowed for more international projects. The increased allocation of an additional $5 million allows the bank to continue this trend.
David Tsava, the director general of Bassisbank, said he is honored that his bank can count the BSTDB as a stable financial partner and that its considers Bassisbank trustworthy enought to merit increased credit lines.
Tsava also said Bassisbank considers BSTDB to be a long-term partner, and will be able to take on additional trade and growth projects thanks to the bank's financial support.