A Memorandum of Understanding (MoU) between the Global Infrastructure Hub (GI Hub) and the Black Sea Trade and Development Bank (BSTDB) has been signed at the BSTDB headquarters  in Thessaloniki, Greece. The MoU, signed in a ceremony on March 8, 2017, will help unlock private investment to fund much-needed public infrastructure in the Black Sea region.

The GI Hub and BSTDB are formalising strategic cooperation and the exchange of key knowledge and opportunities to promote greater investment in infrastructure in the region.

Signing the MoU, GI Hub Chief Executive Officer Chris Heathcote said “This is a good outcome for the GI Hub, and we look forward to building stronger collaborative relationships with the Bank and with key countries in the Black Sea.

“This MOU is the fifth the GI Hub has signed with a multilateral development bank, and we look forward to working closely with the BSTDB in identifying best practice infrastructure in the region and supporting a strong pipeline of private sector investment.”

Ihsan Ugur Delikanli, BSTDB President stressed that “Infrastructure investment is a crucial element  of economic growth, competitiveness and employment. We are committed to further support the infrastructure needs of our Member Countries and we are glad to create synergies with the GI Hub to accelerate investment flows in the Black Sea region”.