Increased BSTDB loan for Ekspo Faktoring A.Ş.
Thessaloniki, May 5, 2014- The Black Sea Trade and Development Bank (BSTDB) increased the revolving Trade Finance Facility provided to Turkey’s Ekspo Faktoring to a total of USD 10 million. The BSTDB facility aims to assist the Company in extending export/import financing to those of its customers in the Republic of Turkey that import goods from Member Countries of the BSTDB or export goods to all countries.
“We are pleased to support the development of Ekspo Factoring, a reliable partner and major player in the Turkish factoring sector. Our continued cooperation with the company is a demonstration of our support to international trade and to non-banking financial sector in Turkey. Ekspo Faktoring has successfully utilized the first USD 5 million Trade Finance credit line provided by BSTDB in 2013. The project will allow us to reach our goal towards regional cooperation and economic development through the trade finance program”, said Vitaly Mygashko, BSTDB Vice President Operations signing the loan agreement.
