Description

BSTDB, in accordance with its mandate, aims to play a catalytic role in the greater Black Sea region for both public and private sector operations consistent with its dual mandate.

The purpose of Special Funds is to:

Increase the impact of Donor activities
Provide alternative route for raising funds - diversify obligations exposure
Harmonize procedures and consistency of approach
Establish working relationships with entities interested in BSEC
Offer opportunity to innovate - pilot projects, complex ventures, experiments with lengthier time horizons, etc.

Special Funds currently administered by BSTDB are:

A Technical Cooperation Special Fund funded by the government of the Hellenic Republic in the amount of EUR 800,000 and administered by BSTDB, was established in 4 July 2001.
A Technical Cooperation Special Fund funded by the Oesterreichische EntwicklungsBank AG (OeEB) in the amount of EUR 500,000 and administered by BSTDB, was established in 30 October 2008.

Usage

The Hellenic Fund

Eligible beneficiaries are private sector entities in BSTDB Member States.

The eligible uses include:

Upgrade feasibility studies
Accounts conversion to IAS
Business Plan assistance
Focused TA for sensitivity analysis
75% tied to use of Greek firms / consultants.

The OeEB Fund

Eligible beneficiaries are private sector entities in BSTDB Member States qualified for Official Development Assistance - Albania, Armenia, Azerbaijan, Georgia, Moldova, Turkey and Ukraine.

The eligible uses include: