Black Sea Trade and Development Bank

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
Serhat Köksal (16 July 2022 - present)[2]
Revenue
Increase EUR 63.7 million (2022)
Websitewww.bstdb.org

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]

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.

  1. ^ a b Key Facts bstdb.gr [dead link]
  2. ^ "Appointment of Next BSTDB President". bstdb.org. 25 February 2022. Retrieved 11 March 2023.
  3. ^ "Archived copy". Archived from the original on 11 October 2007. Retrieved 27 December 2008.{{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 23 August 2017. Retrieved 12 November 2020.
  5. ^ "Black Sea Trade & Development Bank". Archived from the original on 14 January 2010. Retrieved 10 July 2012.