By Helena Bedwell

The Black Sea Trade and Development Bank may provide 50 million euros ($70 million) for projects in Georgia in the next four years, said Deputy Finance Minister Dimitri Gvindadze.

The bank, based in Thessaloniki, Greece, plans to allocate about 22 million euros to energy projects, Gvindadze, who has a seat on the lender’s board, said today in an interview in the Georgian capital Tbilisi.

“One of the projects could be a pipeline, what kind we don’t know yet,” Gvindadze said. “We are glad that a bank like this is supporting the development of the private sector in our country, which is the main drive for any economy.”

The bank has already has contributed as much as 50 million euros for projects in Georgia, Gvindadze said. The lender’s press service was not immediately available for comment.

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