he Black Sea Trade and Development Bank (BSTDB) is an international financial 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.
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
|Formation||January 24, 1997|
|Type||International Financial Institution|
membership in the bank only includes the eleven founding members:
From official website
The Black Sea Trade and Development Bank (BSTDB), an international financial institution with headquarters in Thessaloniki, Greece, was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB started operations in June 1999 and has authorized capital of €3.45 billion. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries. BSTDB is rated A-/A-2 by Standard & Poor’s, and A2/P1 by Moody’s.