BSTDB and Türk Eximbank's New Partnership Boosts Türkiye's Export Sector

Press Release | 06-Dec-2024

Funds to fuel Turkish export growth and regional economic impact

The Black Sea Trade and Development Bank (BSTDB) is providing a new USD 45 million Trade Finance Facility to Türk Eximbank, Türkiye's state export credit agency.

This new facility aims to expand BSTDB's support for more exporting companies in Türkiye, fostering the sector growth nationwide. This partnership is set to stimulate job creation, enhance income levels, improve company infrastructure, and increase trade turnover across the Black Sea region.

Türk Eximbank is one of the oldest financial partners of BSTDB with successful relationship of 24 years starting almost from the inception of the Bank. Over these years the cooperation has grown into the largest trade financing in the BSTDB's history with the cumulative disbursements exceeding USD 0.5 billion all directed to supporting exports from Turkiye.

Upon signing the loan agreement, Dr. Serhat Köksal, BSTDB President said: "We are delighted to team up once again with Türk Eximbank, our trusted partner since 2000, to strengthen Türkiye's export capabilities and drive the regional economic growth. Exports are a cornerstone of Türkiye's economy and play a crucial role in the economic vitality of the Black Sea region. At BSTDB, strengthening exports lies at the heart of our mission, as we believe that robust trade channels are essential for sustainable development and resilience. Strengthening these export channels not only fuels domestic growth but also fosters regional stability and interconnected prosperity. I am in particular proud that this signing happens when the BSTDB celebrates its 25^th anniversary being the testimony of an excellent partnership with a life almost as long as the BSTDB and I hope that our cooperation will continue, benefiting Türkiye and all countries of the region."

Türk Eximbank CEO ,Ali Güney stated, " We are glad that our long-standing co-operation with BSTDB keeps on growing. We believe with this agreement which aims to improve regional trade will further enhance the on-going successful relations between our institutions. As the leader in export finance in Türkiye, Türk Eximbank will continue contributing to Turkish exporters' competitive strength in the international area by providing favorable financial support in terms of both maturity and cost. I would like to take this opportunity to congratulate BSTDB, on their 25^th anniversary and wish them a continued journey of success and collaboration."

Türk Eximbank was established in 1987 as Türkiye's official export credit agency and began to implement its programs at the beginning of 1988. The Bank is entirely state-owned and is subject to government control. The Bank has been mandated to support foreign trade and Turkish investors operating overseas. Since its establishment, the bank has implemented international credit, guarantee, and credit insurance programs aimed at developing economic and political ties between Türkiye and other countries. More details at: www.eximbank.gov.tr.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

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Contact:
Haroula Christodoulou
E-mail: [email protected]
Phone: +30 2310 290533
Twitter: @BSTDB; @Haroulax