The Black Sea Trade and Development Bank (BSTDB) is providing a Euro 27 million loan to the Russian pulp and paper producer Solikamskbumprom, based in Perm region, Russia. The seven-year loan will support the company’s efficiency improvements, energy savings and expansion of the production capacity.
Victor Baranov, President of Solikamskbumprom, commented: “The loan agreement with BSTDB enabled us to get access to the long-term funding we need to modernize and develop our company. Furthermore, the technical assistance provided for the environmental and social assessment in the framework of the agreement proved to be very helpful to improve further our ongoing environment protection arrangements.”
The BSTDB loan includes technical assistance for improvements of the company’s environmental, labor, and health and safety performance, so as to comply with strict national and international requirements of the pulp and paper industry.
The Black Sea Trade and Development Bank (BSTDB)is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.
