was established by the eleven Member States of the Organization of the Black Sea Economic Co-operation (BSEC) in 1998 as a regional multilateral development financial institution.
- BSEC is a regional intergovernmental economic cooperation organization aimed at fostering interaction and harmony among its Member States as well as ensuring peace, stability and prosperity in the Black Sea region. It serves as a forum for cooperation in a wide range of areas which include agriculture and agro-industry, banking and finance, combating organized crime, culture, customs matters, education, emergency assistance, energy, environmental protection, exchange of statistical data and information, healthcare and pharmaceutics, information and communication technologies, institutional renewal and good governance, science and technology, SMEs, tourism, trade and economic development and transport. The 12 Member States of BSEC are Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey and Ukraine.
PABSEC - Parliamentary Assembly of the Black Sea Economic Cooperation is a component of the BSEC structure giving to it constant support on a consultative basis. It adds a pluralistic, meaningful dimension to the BSEC framework by providing legislative support in order to activate the relevant resolutions taken by the Council of Ministers.
BSEC Business Council is a center for interaction in between business circles from the BSEC Member States that helps to incubate joint ventures and other business-oriented initiatives targeting the acceleration of transition and privatization by constant interaction between public and private sectors.
ICBSS - International Center for Black Sea Studies is the first multilateral scientific venture in the region to investigate beyond national boundaries economic issues, solutions and prospects extending BSEC-wide. By regular interaction with comparable institutions, it aims to be instrumental in creating a more comprehensive understanding of the region and BSEC on the international stage.