Black Sea Trade and Development Bank picks Azerbaijan’s finance minister as board chair

The Board of Governors of the Black Sea Trade and Development Bank (BSTDB) has elected Azerbaijan’s Minister of Finance, Sahil Babayev, as the new Chairman of the Board for the upcoming year.

The decision was made during the 27th Board meeting held in Armenia, Caliber.Az reports, citing the BSTDB.

Representatives from Bulgaria and Georgia were chosen as Deputy Chairpersons of the Board.

Additionally, it was decided that the 28th annual meeting of the Board of Governors will be hosted in Azerbaijan, with the exact date and venue to be announced in due course.

The BSTDB is an international financial institution founded by Azerbaijan, Albania, Armenia, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. Its headquarters are located in Thessaloniki, Greece.

The bank supports economic development and regional cooperation by providing loans, credit lines, equity investments, and guarantees for projects and trade financing in both the public and private sectors of its member states. The bank’s authorized capital stands at €3.45 billion.

By Khagan Isayev