OREANDA-NEWS. April 16, 2009. Black Sea Trade and Development Bank has decided to allocate loan of US10 million for the construction of the modern glass factory in Moldova.

As it was informed in the Ministry of Finance of Moldova, according to the decision adopted by the Board of Directors of BSTDB in Istanbul, the loan will be granted to the Glass Container Prim for 6 years.

The funds will be used to build the factory, which production capacity should make 140 million high-quality bottles per year. Total cost of the project is US34 million. As it is noted in the Ministry of Finance, this is the first project in the real sector of economy in Moldova, which BSTDB funds. Currently, BSTDB introduces in Moldova five projects totaling US23 million, designed for the banking sector.

Black Sea Trade and Development Bank is a financial institution, established in 1992 by the states of the Black Sea Economic Cooperation Zone: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The purpose of the Bank is to promote economic development and cooperation between the Member States.