The Black Sea Trade and Development Bank (BSTDB) provided a loan of 10 million euros to the largest agro-industrial holding in Moldova, Trans-Oil Group.
As noted in the BSTDB report, in particular, a new short-term loan of 10 million euros allocated to Trans-Oil Group will support the group’s working capital needs and will help the company expand exports of sunflower products and other agricultural products, primarily to other member countries of the bank, including Romania and Turkey. The loan is expected to provide significant support to the Moldovan economy affected by the Russian-Ukrainian conflict, underscoring the BSTDB's commitment to helping member countries facing difficulties. BSTDB President Serhat Köksal noted that Trans-Oil Group is an excellent partner and key player in the agricultural sector of Moldova. “We are happy to help them maintain sustainability, increase export potential and cooperation with countries in the region. While our focus is on strengthening the Moldovan economy, this financial support indirectly helps other Black Sea countries by addressing trade and supply chain issues arising from the ongoing conflict,” said the BSTDB President. Trans-Oil Group CEO Vaja Jhashi said the group is pleased to expand cooperation with the Black Sea Trade and Development Bank, its long-time partner, with this new deal aimed at supplying Moldovan goods. According to him, despite the geopolitical situation, the Trans-Oil Group is fully committed to grain production in the region, making significant investments that make a positive contribution to the global food supply chain, and in this regard, the support of the BSTDB is key for the group. Trans-Oil Group began its grain and agro-trading activities in the Black Sea region in 1996, when the company's founders launched agribusiness in Moldova and Ukraine. Trans-Oil Group is the largest buyer and exporter of grains and oilseeds in Moldova, has a unique and integrated system for sourcing, processing, storing and transporting goods. The group operates 16 warehouses throughout the country, capable of simultaneously storing more than 750 thousand tons of various grain crops, 3 plants for the production of edible vegetable oil with a total capacity of 600 thousand tons, including oil extraction plants in Balti and Ceadir Lunga. It also owns 2 grain terminals and a sunflower oil terminal in the Giurgiulesti port, as well as a number of agricultural, processing, transport and infrastructure enterprises in Romania and Serbia. The Black Sea Trade and Development Bank (BSTDB) is an international financial organization established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The headquarters of the BSTDB is located in Thessaloniki (Greece). The BSTDB supports economic development and regional cooperation by providing loans, lines of credit, equity and guarantees for projects and trade finance in the public and private sectors in member countries. The bank's authorized capital is 3.45 billion euros. // 16.01.2024 — InfoMarket.
