Black Sea Trade and Development Bank
|Formation||January 24, 1997|
|Type||International Financial Institution|
President, Chairman of the Board of Directors
|Dmitry Pankin (July 2018 - July 2022)|
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.
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
- The World Bank
- The BSTDB finalized a strategic partnership agreement with the Eurasian Development Bank in February 2018.
- In July 2018, the BSTDB signed a cooperation agreement with the OPEC Fund for International Development.
- In October 2008, the BSTDB finalized a cooperation agreement with the Development Bank of Austria
- Organization of the Black Sea Economic Cooperation (BSEC)
- International Centre for Black Sea Studies (ICBSS)
- International financial institutions
- "Archived copy". Archived from the original on 2007-10-11. Retrieved 2008-12-27.CS1 maint: archived copy as title (link)
- "Archived copy". Archived from the original on 2010-01-14. Retrieved 2012-07-10.CS1 maint: archived copy as title (link)
- "How we are structured - Black Sea Trade and Development Bank". www.bstdb.org. Retrieved 2017-12-25.
- "Management - Black Sea Trade and Development Bank". www.bstdb.org. Retrieved 2017-12-25.