ICI Organizes A 'Black Sea Trade and Development Bank' Introduction Meeting
Istanbul Chamber of Industry (ICI) organized a meeting to inform industrialists about the products and services of Black Sea Trade and Development Bank (BSTDB) that it grouped under loans, guarantees, trade financing, SME programs, technical assistance etc. BSTDB President Ihsan Uğur Delikanlı also attended the meeting hosted by ICI Board Member Ali Eren in Odakule. Many industrialists and business people also attended the meeting.
Opening the meeting, ICI Board Member Ali Eren stated that the scales of the current economies are measured with GDP, yet the quality gained importance, too. Basing this change to the great transformation in the global economy, Eren said that technological and sustainable production stands out more now. Eren named one of the most important elements in ensuring the sustainability of a technology-based industry as financing, and expressed the inadequacy of the current banking system in providing the required financing. Mentioning the need of special financing tools and methods for some strategic and long-term investments, Eren reminded that many great organizations were gained with this vision throughout the history of the Turkish Republic.
Eren, who mentioned the importance of development banks in the global economical cycle, named development banks as a solution to the problem of maturity in countries like Turkey where there is no capital depth. Indicating that BSTDB is an underutilized resource even though it was founded in 1999, Eren said that the bank may provide a better fitting approach if the industrialists voice their demands more.
BSTDB President Ihsan Uğur Delikanlı also talked during the meeting, and said that 11 member countries of Black Sea Cooperation Organization are shareholders of the bank besides Serbia. Telling that the bank got a rating of investable for the first time in 2004, Delikanlı stated that it also managed to issue 200 million Swiss Franc bond in 2012 for the first time. Naming the bank's purpose as providing the members loans that are more advantageous than what they can get by themselves by creating a synergy between member countries, Delikanlı underlined the BSTDB's credit rating that is at least two points higher than the rating average of its member countries. Reminding that they have been making profit every year even though this is not their main purpose, Delikanlı added that this provides them the opportunity to provide more advantageous loans. Delikanlı named the three largest shareholders of the bank as Turkey, Russia and Greece.
BSTDB Deputy President of Financial Affairs, Altay Today took the stage later and made a comprehensive presentation regarding the services of the bank. Following this presentation, the participants of the meeting had the chance to direct their questions to the bank representatives regarding the projects and investments that they can get loans for.