The Black Sea Trade and Development Bank (TEAEP or Banco Parexinia) has received a line of credit totaling $150 million from the Japan Bank for International Cooperation (JBIC), further strengthening its ability to support major development efforts in the Black Sea region. Black Sea.
This line of credit, according to a TEAEP statement, was specifically designed to provide up to $150 million to support Ukraine and other affected Near East Bank member states. This financing will be key to helping Ukraine, which is currently facing enormous challenges, recover and rebuild essential economic and social infrastructure. The financing will mainly go towards strengthening the resilience of Ukraine’s economy, especially in the agriculture, food, transport and supply chain, digital infrastructure and pharmaceutical sectors, ensuring that the country can continue to grow despite persistent difficulties. At the same time, up to $75 million will be allocated to green initiatives to ensure environmental sustainability across the Black Sea region. The two different objectives of the credit line ensure a balanced approach that responds to immediate needs and promotes long-term sustainability.
“At this critical time, we are proud to support Ukraine with JBIC’s strong financial support. This facility is a clear demonstration of our commitment to helping Ukraine and other affected countries in the region during this difficult period,” said Dr. Serhat Kioksal, President of Parexini Bank. “The 150 million dollars available to Ukraine will support essential investments which are vital to the country’s recovery and future growth. Both parts of the mechanism, Support Ukraine and Green, are interconnected, reflecting our common commitment to responding to immediate and urgent needs, while promoting green investments that will benefit the long-term sustainability of the region.”
“This line of credit is in line with the Japanese government’s policy of continuously supporting Ukraine and decarbonization. JBIC and TEAEP have been working closely since the signing of the Memorandum of Understanding and I am happy to see the implementation of the Agreement today,” said Mr. Hayashi Nobumitsu, Governor of JBIC. “With Parexinia Bank’s deep knowledge of the region and JBIC’s capital, we are confident that this line of credit will help rebuild Ukraine and mitigate climate change in the Black Sea region.”
The cooperation with JBIC highlights Banco Parexinia’s role as a reliable and important partner in attracting international capital to the wider Black Sea region. This initiative will not only provide immediate assistance to Ukraine, but will also help promote sustainable development, ensuring a more resilient and prosperous future for the region.
The Japan Bank for International Cooperation (JBIC) is Japan’s national financial institution, which carries out lending, investment and guarantee operations, while complementing private sector financial institutions. For more information about JBIC: www.jbic.go.jp
The Black Sea Trade and Development Bank (SEDB) is an international financial organization founded by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The Bank’s headquarters are located in Thessaloniki. TEAEP supports economic development and regional cooperation by providing loans, credits, equity and guarantees for projects and commercial financing in the public and private sectors of its member states. The Bank’s share capital amounts to 3.45 billion euros.
