Black Sea bank exceeds targets

ANKARA — The head of the 11-nation Black Sea Trade and Development Bank (BSTDB) has told Anadolu Agency his institution had “exceeded its target for operations in Turkey” over the last two years. Speaking on Tuesday, BSTDB President Ihsan Ugur Delikanli said Turkey had investments in the energy, infrastructure and health sectors worth €865.3 million. “As a result of new operations in the last two years, Turkey has the largest share in the outstanding portfolio among our member countries,” he added. “The BSTDB has exceeded its target for operations in Turkey during last two years, and we expect that the demand trend would continue as at present.” Delikanli said the BSTDB had been providing broad-based support to key sectors in Turkey such as renewable energy, urban infrastructure and the health sector. “On a cumulative basis since the start of operations, Turkey ranks second among all member countries, with 36 approved operations for a total amount of €865.3 million,” he said. Among all member states, the construction and operation of the Etlik Health Campus in Ankara is the BSTDB’s biggest loan so far, worth €60 million. This is followed by a €58-million support loan provided for the Shah Deniz II offshore natural gas field in Azerbaijan and a €50 million financing of Greek communication company OTE. Delikanli said Turkey is one of two important financing destinations for the BSTDB due to its dynamic economy and the growth potential: “Therefore, the bank hasn›t faced any difficulty in finding and financing projects in Turkey since the inception of the Bank.”