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The Black Sea Trade & Development Bank (BSTDB) will provide First Ukrainian International Bank (FUIB) with a US$10mn credit line for the purpose of lending short-term trade finance products in Ukraine.

The revolving credit line of BSTDB will be used by FUIB to provide pre-and post-shipment financing to Ukrainian exporters selling to customers in the BSTDB member countries and beyond with a maximum tenor of one year. The facility will provide Ukrainian companies with greater access to working capital required to perform under export contracts. In addition, they will be able to offer more competitive payment terms to their clients, thus improving the competitiveness of the Ukrainian exports.

This operation strengthens the BSTDB efforts to improve availability of funds for trade financing in Ukraine, following earlier credit line extended by BSTDB to ProCredit Bank, Ukraine for the purpose of lending medium-term financing to Ukrainian micro and small businesses at the total amount of US$7.5mn.

The First Ukrainian International Bank started operations in 1992 and has developed into a nationwide banking business. The bank disposes nowadays of 10 branches in Ukraine and provides a full range of banking services, including taking deposits and granting loans, investing in securities, transfer of payments in Ukraine and abroad and exchange of currencies.


The owners of the bank are Fortis Bank (Netherlands) NV – 20%, European Bank for Reconstruction and Development – 10%, International Financial Corporation (World Bank Group) – 10%, Deutsche Investitions – und Entwiscklungsgesellschaft mbH – 10%, Azovstal – 49%.

Black Sea Trade and Development Bank is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. With an authorised capital of SDR1bn (US$1.45bn), the bank supports economic development and regional cooperation by providing financing, guarantees, and equity for projects supporting both public and private enterprises in its member countries. Since the commencement of operations in 1999, BSTDB approved projects and trade finance operations totaling US$765mn.