BAKU, Azerbaijan, October 1. The Black Sea Trade and Development Bank (BSTDB) has secured a facility of up to $150 million from the Japan Bank for International Cooperation (JBIC), boosting its capacity to support vital development projects in the Black Sea region, Trend reports via the BSTDB.
The facility, which is earmarked to provide financial aid to Ukraine and other impacted BSTDB member states, will play a crucial role in Ukraine's recovery. The funds are aimed at rebuilding essential economic and social infrastructure in the country, which continues to face significant challenges. Key sectors such as agriculture, food production, transport and logistics, digital infrastructure, and pharmaceuticals will receive support, helping to strengthen Ukraine's economic resilience.
In addition to direct aid, up to $75 million of the facility will be directed toward green initiatives across the Black Sea region, promoting environmental sustainability. This two-pronged approach balances urgent needs with long-term sustainability goals.
The initiative not only provides immediate assistance to Ukraine but also drives sustainable development, fostering a more resilient and prosperous future for the region.
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