Black Sea Trade and Development Bank

The Black Sea Trade and Development Bank (BSTDB) is an international development finance institution serving the eleven member founding countries of the Black Sea Economic Cooperation, a regional economic organization. It supports economic development and regional cooperation by providing loans, guarantees, and equity for development projects and trade transactions. BSTDB supports both public and private enterprises in member countries and does not attach political conditionality to its financing.[3]

Black Sea Trade and Development Bank
FormationJanuary 24, 1997 (1997-01-24)[1]
TypeInternational Financial Institution
HeadquartersGreece Thessaloniki, Greece
Location
Region served
Countries around the Black sea
Membership
11
President, Chairman of the Board of Directors
Turkey Serhat Köksal (16 July 2022 - present time)[2]
Websitewww.bstdb.org

Objectives of the bank include promoting regional trade links, cross country projects, foreign direct investment, supporting activities that contribute to sustainable development, with an emphasis on the generation of employment in the member countries, ensuring that each operation is economically and financially sound.[4] The bank has an authorized capital of EUR 3.45 billion.[5]

BSTDB is governed by the Agreement Establishing the Black Sea Trade and Development Bank, a United Nations registered treaty. The Agreement came into force on January 24, 1997.[1] BSTDB commenced its operational activities in June 1999.

Moody's Investors Service rates BSTDB "A2" long term with stable outlook. Standard & Poor's rating agency assigned BSTDB a long term issuer rating of "A−" with stable outlook. Scope Ratings evaluates BSTDB at A- with negative outlook.[6]

Management

The Bank is overseen by the Board of Governors, Board of Directors, the President, three Vice Presidents and the Secretary General. The head of the Board of Directors and the chief executive of the Bank is the Director. Board of Directors appoints the Vice Presidents and the Secretary General.[7] In 2018, Dmitry Pankin was appointed the President for the term of four years.[8]

Member states
  member states

Although the Black Sea Economic Cooperation organization has thirteen members, membership in the bank only includes the eleven founding members:

Serbia and North Macedonia are full members of the Black Sea Economic Cooperation organization, however they do not have any shareholding percentages in the bank.[9]

Observer organizations

Observer organizations of the Black Sea Trade and Development Bank, include:[10]

Partnership agreements

See also

References
  1. http://www.bstdb.gr/keyfacts.htm
  2. "Appointment of Next BSTDB President". bstdb.org. 2022-02-25. Retrieved 2023-03-11.
  3. "Archived copy". Archived from the original on 2007-10-11. Retrieved 2008-12-27.{{cite web}}: CS1 maint: archived copy as title (link)
  4. "MedAgri Member: Black Sea Trade and Development Bank (BSTDB)". www.eastagri.org. Archived from the original on 2017-08-23. Retrieved 2020-11-12.
  5. "Black Sea Trade & Development Bank". Archived from the original on 2010-01-14. Retrieved 2012-07-10.
  6. "Scope downgrades Black Sea Trade and Development Bank to A-/ Negative". Scope Ratings. Retrieved 2 April 2022.
  7. "How we are structured - Black Sea Trade and Development Bank". www.bstdb.org. Retrieved 2017-12-25.
  8. "Management - Black Sea Trade and Development Bank". www.bstdb.org. Retrieved 2017-12-25.
  9. Black Sea Trade and Development Bank (2020-12-31). "Member countries". Bstdb.org. Retrieved 2022-09-28.
  10. Black Sea Trade and Development Bank. "Observers". Bstdb.org. Retrieved 2022-09-28.
  11. "Евразийский банк развития и Черноморский банк торговли и развития договорились о стратегическом сотрудничестве". eabr.org.
  12. Black Sea Trade and Development Bank. "Who we are". Bstdb.org. Retrieved 2022-09-28.
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