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Friday, July 20, 2018

BSTDB increases loan allocation to Bassisbank

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.

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Basis Bank - Georgia

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