The Black Sea Trade and Development Bank (BSTDB) has approved financings for 31 projects in Romania worth over EUR 375 million, according to Finance Ministry.

In the first part of the year, the bank granted the Romanian cable manufacturer Romcab a EUR 18 million financing, reports local Agerpres. In 2014, BSTDB approved five projects, granting EUR 10 million to energy company EDPR, EUR 7.5 million to IT firm TeamNet, EUR 5 million to TeamNet International, EUR 23.94 million to group Kastamonu and EUR 10 million to the dairy manufacturer Olympus.

The Black Sea Trade and Development Bank is a development bank focused on the Black Sea region. Its biggest shareholders are Russia, Turkey and Greece, each with a share of 16.5%. The Romanian state has a 14% stake.

editor@romania-insider.com