BAKU, Azerbaijan, December 10. The Black Sea Trade and Development Bank (BSTDB) has committed 10 million euros to the SMERemediumCap II Fund, a private equity fund established to boost the growth and competitiveness of Greek small and medium-sized enterprises (SMEs), Trend reports via the Bank.
BSTDB invests alongside the EBRD, Hellenic Development Bank of Investments, Greek banks and other prominent corporate and individual investors.
SMERemediumCap II will support Greek SMEs and help them gain access to type and structure of finance they need, promote development of real economy, support regional trade and investment, including cross border investments in the neighboring countries.
The Fund will promote green initiatives, digitalization, inclusivity, increase resource efficiency and enhance resilience. The Fund will ensure investing in a socially responsible way, facilitating green economy transition and supporting social equality.
The Fund, will contribute to the availability of private equity capital to small and medium sized enterprises in various sectors including light manufacturing, food and beverage, health, hospitality, and business services, to implement their development and investment plans, scale operations and consolidate their international presence.