The Black Sea Trade & Development Bank (BSTDB) announced mid-April 2009 that it has decided to allocate loan of US$ 10M for the construction of the modern glass factory in Moldova. According to the decision adopted by the Board of Directors of BSTDB in Istanbul, the loan will be granted to Glass Container Prim for six years. The funds will be used to build the factory, which should make 140m/bpa. Total cost of the project is US$ 34M. BSTDB is currently involved 5 projects in Moldova totalling US$ 23M, designed for the banking sector. The Black Sea Trade & 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 & Ukraine, aimed at promoting economic development & cooperation between Member States.
