The Black Sea Trade and Development Bank (BSTDB) is an

international financial institution An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, al ...

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. 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 The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be ...

registered treaty. The Agreement came into force on January 24, 1997.http://www.bstdb.gr/keyfacts.htm BSTDB commenced its operational activities in June 1999.

Moody's Investors Service Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides internationa ...

rates BSTDB "A2" long term with stable outlook.

Standard & Poor's S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is con ...

rating agency assigned BSTDB a long term issuer rating of "A−" with stable outlook. Scope Ratings evaluates BSTDB at A- with negative outlook.

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. In 2018, Dmitry Pankin was appointed the President for the term of four years.

Member states

Black Sea Trade and Development Bank members

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

Serbia Serbia (, ; Serbian language, Serbian: , , ), officially the Republic of Serbia (Serbian language, Serbian: , , ), is a landlocked country in Southeast Europe, Southeastern and Central Europe, situated at the crossroads of the Pannonian Bas ...

and

North Macedonia North Macedonia, ; sq, Maqedonia e Veriut, (Macedonia before February 2019), officially the Republic of North Macedonia,, is a country in Southeast Europe. It gained independence in 1991 as one of the successor states of Socialist Feder ...

are full members of the Black Sea Economic Cooperation organization, however they do not have any shareholding percentages in the bank.

Observer organizations

Observer organizations of the Black Sea Trade and Development Bank, include: *

Asian Development Bank The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The bank also maintains 31 field office ...

European Bank for Reconstruction and Development The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focus ...

European Investment Bank The European Investment Bank (EIB) is the European Union's investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world. The EIB finances and invests both through equity and debt solutions ...

International Investment Bank International Investment Bank (IIB) is a multilateral development institution with headquarters in Budapest, Hungary. It was established in 1970 and operates as an international organisation based on the intergovernmental ''Agreement Establi ...

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...

KfW The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national d ...

Nordic Investment Bank The Nordic Investment Bank (NIB) is an international financial institution founded in 1975 by the five Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden). In 2005, the three Baltic states (Estonia, Latvia, and Lithuania) also beca ...

Vnesheconombank VEB.RF, or VEB (russian: ВЭБ.РФ (ex-Vnesheconombank)), is a Russian state development corporation. It was founded in 2007 as a development institute. VEB.RF is an investment company and development institute in Russia. It has financed more t ...

* The

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

Partnership agreements

* The BSTDB finalized a strategic partnership agreement with the

Eurasian Development Bank The Eurasian Development Bank (EDB) is an international financial institution investing in the development of the economies, trade and other economic ties, and integration in Eurasian countries. The EDB was founded in 2006 and is headquartered in ...

in February 2018. * In July 2018, the BSTDB signed a cooperation agreement with the

OPEC Fund for International Development The OPEC Fund for International Development (OPEC Fund) is an intergovernmental development finance institution established in 1976 by the member states of the Organization of the Petroleum Exporting Countries (OPEC). The OPEC Fund was conceived ...

. * In October 2008, the BSTDB finalized a cooperation agreement with th
Development Bank of Austria
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References

External links