“Crete provides several investment opportunities in the energy sector where the primary attention is on the development of the wind and solar capacities in the country. In Crete, the BSTDB is currently considering a solar thermal plant project opportunity, which is based on the cutting-edge concentrated solar power technology. If implemented, the project will improve the quality of electricity and reduce the electricity strains during the peak load”, clarified in a press conference to “In-On” magazine the President of the Black Sea Trade and Development Bank Mr. Andrey Kondakov.
– Which are the Greek banks that you will cooperate with?
ANS: We do not have any active operations in the Greek banking sector at the moment. Historically, it has been difficult to demonstrate and prove the Bank’s dedication and capability in Greece due to the well developed Greek banking sector and capital market. Therefore, the main focus of the Bank’s operations in Greece was on the non-banking sector. However, the Bank is open to considering cooperation possibilities with the Greek banks.
– What is the target of the bank’s cooperation with the Greek banks?
ANS: When cooperating with partners, including the Greek banks, the Bank has to pursue its mandate, which aims to support the economic and social development of the Member States and the cooperation among them. In particular, the Bank can provide direct loans to Greek banks for on-lending to their clients, including SMEs and retail customers. In this case, the Bank will support the lending activities of the Greek banks and facilitate access to finance for their clients. The Bank can also help the Greek banks to finance activities and strengthen their presence in other Member States. In addition, the Bank can consider co-financing opportunities with the Greek banks providing funding for Greek companies’ local or cross-border projects, thus sharing risks and supporting the Greek economy.
– Which are the Greek banks that have shown interest?
ANS: There have been very preliminary contacts but it is too early to mention the names of the institutions.
– To what extent is the bank interested in a co-operation with enterprises from Crete?
ANS: Greece is one of the largest shareholders of the BSTDB. The Bank was established by its shareholders to promote and facilitate the economic development of its member-states and the cooperation among them. We are interested in financing commercially viable enterprises and projects in the Hellenic Republic whether they are located in Crete or in any other part of the country. We are following the developments in respect of the Kastelli Airport Project and, once the concession is awarded, we would be very much interested in considering our involvement in financing this project, which will improve the transport infrastructure of Crete and contribute positively to the tourism as well as the other sectors of the economy of the island.
– Is there any interest from the bank’s shareholders to invest in the energy recourses of Crete?
ANS: Greece, particularly Crete, provides several investment opportunities in the energy sector where the primary attention is on the development of the wind and solar capacities in the country. In Crete, the BSTDB is currently considering a solar thermal plant project opportunity, which is based on the cutting-edge concentrated solar power technology. If implemented, the project will improve the quality of electricity and reduce the electricity strains during the peak load.
Andrey Kondakov was born in Russia in 1960 and was appointed President of the Black Sea Trade and Development Bank, on July 16th 2010 for four years.
He started his career as a researcher in 1982; he specializes in international funding of investment projects. In 1988, he worked in the Ministry of Foreign Affairs, Department of International Economic Relations and gradually undertook responsible posts in Moscow and abroad before becoming Manager of the Department in 2002. During his entire career he was mainly responsible for issues regarding Russia’s participation in international financial institutions, investment and financial relations as well as peripheral financial cooperation.
Since 2006, he has been a member of Collegiums of the Ministry of Foreign Affairs (ministerial committee). Mr. Kondakov was the head of the Russian Delegation regarding accession discussions with the Asian Development Bank and the Inter-American Development Bank. From 2003 till 2007 he was a member of BSTDB in the Board of Directors for Russia. From July 2007 until July 2010 Mr. Kondakov served as a BSTDB Vice-President in Banking. He graduated from the Department of Economics of the State University of Moscow and holds a doctoral degree in Economic Development.
Back in the 13th edition In-On