Black Sea Trade and Development Bank (BSTDB) signed a credit-contract on financial development with French Proparco institute to invest €20 million for projects’ implementation in the region of the Black Sea.

The credit term is allocated for ten years, Finmaket informs. The money will go for implementing projects in Armenia, Azerbaijan, Georgia, Moldova, Turkey and Ukraine. The main fields of investment include microfinance, healthcare, education, tourism, and installment of energetic sources.

BSTDB was founded by eleven member states: Russia, Greece, Bulgaria, Ukraine, Romania, Albania, Azerbaijan, Armenia, Georgia, Turkey and Moldova.