The Black Sea Trade and Development Bank (BSTDB) has obtained a facility of up to $150 million from the Japan Bank for International Cooperation (JBIC) to support Ukraine's reconstruction efforts.
"This funding will be instrumental in helping Ukraine, which is currently facing immense challenges, to recover and rebuild key economic and social infrastructure," BSTDB said in a press release on Monday.
The facility will support Ukraine's agriculture, food, transport and logistics, digital infrastructure, and pharmaceutical sectors, ensuring the country's economy can grow despite the war. In addition, up to $75 million of the facility will be allocated to green initiatives to promote environmental sustainability across the Black Sea region.
"The $150 million allocated for Ukraine will catalyze essential investments that are crucial for the country's recovery and future growth," BSTDB President Serhat Köksal said. "Both portions of the facility, the 'Support Ukraine' and the 'Green' one, are interconnected, reflecting our shared commitment to addressing immediate and acute needs while fostering green investments that will benefit the region's long-term sustainability."
The Black Sea Trade and Development Bank, headquartered in Thessaloniki, Greece, is an international development finance institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine — founders of the Black Sea Economic Cooperation.
