Azerbaijan participates in BSTDB meeting in Istanbul to discuss regional economic cooperation

Azerbaijan is actively participating in the 26th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) being held in Istanbul, Türkiye.

This important event brings together representatives from member countries to discuss crucial aspects of regional economic cooperation and development.

Representing Azerbaijan at the meeting is Finance Minister Samir Sharifov, who serves as a member of the BSTDB's Board of Governors, Caliber.Az reports via local media.

Discussions at the meeting will focus on a range of key issues, including the Bank's medium-term strategy, its business plan for 2025-2026, the current state of the Bank's loan portfolio, funding sources, and the potential for further growth in banking and business opportunities among the member nations.

The BSTDB, headquartered in Thessaloniki, Greece, is an international intergovernmental financial institution. It was founded by the member states of the Black Sea Economic Cooperation (BSEC), which includes Albania, Azerbaijan, Armenia, Bulgaria, Georgia, Moldova, Romania, Russia, Türkiye, Greece, and Ukraine.

The Bank's main goal is to promote economic development and regional cooperation by providing loans for both public and private sector projects, offering credit lines, making investments, and financing trade within the region.

The ongoing discussions at the BSTDB’s Annual Meeting are pivotal as they shape the future of economic integration and development in the Black Sea region, ensuring that the participating countries can leverage financial support to meet their economic goals and strengthen collaboration.

By Tamilla Hasanova