OREANDA-NEWS.  Signing Ceremony of the Contribution Agreement between the Greek Government and BSTDB at the Ministry of Macedonia and Thrace, March 20, 2014. From left to right: Andrey Kondakov, BSTDB President, Theodoros Karaoglou, Minister of Macedonia and Thrace, Notis Mitarachi, Deputy Minister for Development and Competitiveness and BSTDB Governor for Greece On March 20, 2014, the Government of the Hellenic Republic and the Black Sea Trade and Development Bank (BSTDB) signed a Contribution Agreement establishing a special fund for the acquisition by BSTDB of permanent premises in Thessaloniki. The Agreement was signed by Mr. Notis Mitarachi, Deputy Minister of Development and Competitiveness of the Hellenic Republic and BSTDB Governor for Greece, and Mr. Andrey Kondakov, BSTDB President, in the presence of Mr. Theodoros Karaoglou, Minister of Macedonia and Thrace of Greece, and Consuls General of the BSTDB Member States in Thessaloniki.
 
The special fund of EUR 10 million will be provided by the Government in eight annual installments.  The first installment of EUR 3 million will be paid to the Bank until the end of 2014.
The Contribution Agreement will allow BSTDB to acquire permanent premises in Thessaloniki and to redirect to the Bank’s development financing activities the substantial funds thus far spent for rental office space.