The Government approved on Friday, through a draft law, an increase in Romania's capital in the Black Sea Trade and Development Bank by more than 100,000 shares with a total value of approximately EUR 115 million.
According to a press release from the Executive, the legislative act was proposed in line with Resolution No. 220 of the Board of Governors of the Black Sea Trade and Development Bank on the completion of the allocation of subscribed quotas by member states and the conclusion of the second capital increase.
Under the draft, Romania's capital holding, as a founding member, in the Black Sea Trade and Development Bank is to be increased by 100,256 shares with a total value of EUR 115,294,400.
'The payment of the paid-in capital amounting to EUR 34,588,320, representing 30% of the subscribed capital, will be made in eight successive instalments, each worth EUR 4,323,540, starting in 2027. The amounts required for the payment will be provided annually from the state budget through the budget of the Ministry of Finance. Romania's participation in the operation to subscribe paid-in shares in the Black Sea Trade and Development Bank will allow the maintenance of voting power within the bank, as well as representation in its governing structures,' the press release reads.
The draft law will be sent to Parliament for debate and adoption.
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