The Black Sea Trade and Development Bank (BSTDB) is international financial institution serving its eleven member countries that are founding members 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.
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. The bank has an authorized capital of EUR 3.45 billion.
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. 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 to BSTDB a long term issuer rating of “A-” with stable outlook.
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. In 2018, Dmitry Pankin was appointed the President for the term of four years.
Observer organizations of the Black Sea Trade and Development Bank, include:
- Asian Development Bank
- European Bank for Reconstruction and Development
- European Investment Bank
- International Investment Bank
- International Finance Corporation
- Nordic Investment Bank
- ^ Jump up to:ab http://www.bstdb.gr/keyfacts.htm
- ^“Archived copy”. Archived from the original on 2007-10-11. Retrieved 2008-12-27.
- ^“Archived copy”. Archived from the original on 2010-01-14. Retrieved 2012-07-10.
- ^“How we are structured – Black Sea Trade and Development Bank”. www.bstdb.org. Archived from the original on 2017-12-25. Retrieved 2017-12-25.
- ^“Management – Black Sea Trade and Development Bank”. www.bstdb.org. Archived from the original on 2017-12-25. Retrieved 2017-12-25.