Board of Governors

The Board of Governors is the highest decision making body of the Bank. It is comprised by one Governor and one Alternate Governor appointed from the 11 Member States of the Bank. Each Governor and each Alternate Governor shall serve at the pleasure of the appointing Member. The Board of Governors may delegate to the Board of Directors any or all of its powers, except the power to, among other things, to amend the Agreement Establishing the Bank, to approve the admission of new Members, to authorize any changes in the Bank’s capital stock and to terminate the operations of the Bank. The Board of Governors approves the annual report, the audited financial statements and appoints the President of the Bank. At its annual meeting, the Board shall elect one of the Governors as Chairman, who shall hold office until the election of the next Chairman at the next annual meeting of the Board. The Chairmanship rotates amongst the Member States.

Country Governor Alternate Governor
Albania Mr. Erjon LUCI Ms. Ilda MALILE
  Deputy Minister of Finance General Director, General Directorate of Public Debt, Borrowing Department, Agreements Division, Ministry of Finance
Armenia Mr. Arthur JAVADYAN Mr. Andranik GRIGORYAN
  Chairman, Central Bank of Armenia Deputy Head, Financial System Stability and Development Department, Central Bank of Armenia
Azerbaijan Mr. Samir SHARIFOV Mr. Shahin MUSTAFAYEV
  Minister of Finance Minister of Economy
Bulgaria Ms. Marinela PETROVA Ms. Gergana BEREMSKA
  Deputy Minister of Finance Director, International Financial Institutions and Cooperation Directorate, Ministry of Finance
  Governor, National Bank of Georgia Minister of Finance
  Minister of Economy & Development Position Vacant
Moldova Mr. Octavian ARMASU
  Minister of Finance Position Vacant
Romania Mr. Ionut MISA Mr. Gyorgy ATTILA
  Minister of Public Finance Secretary of State, Ministry of Public Finance
Russia Mr. Sergey STORCHAK Mr. Igor KOVAL
  Deputy Minister of Finance Director of the Department for Investment Policy and Development of Public-Private Partnership, Ministry of Economic Development
Turkey Mr. Osman CELIK
  Undersecretary of Treasury Position Vacant
Ukraine Mr. Volodymyr KUCHYN
  Position Vacant Head of Office for European Integration and International Programs, National Bank of Ukraine