Press Releases

Eurasian Development Bank and Black Sea Trade and Development Bank Agree on Strategic Cooperation

Sochi, 15-Feb-2018

Today, the Black Sea Trade and Development Bank (BSTDB) and the Eurasian Development Bank (EDB) signed a Memorandum of Understanding (MoU) within the framework of the Russian Investment Forum in Sochi. The MoU aims at enhancing cooperation opportunities for the two development banks in common member countries (Russia and Armenia) in the areas of project co-financing, asset management initiatives, technical assistance and capacity building.


Signing the MoU, Ihsan Ugur Delikanli, BSTDB President said: “We are happy to start exploring business opportunities together with the Eurasian Development Bank, capitalizing on our shared development mandates and objectives. Together, we strive to achieve better effectiveness of our operations and generate higher value-added for our shareholders through improved synergies and knowledge sharing. The Memorandum conveys a highly positive message to our mutual business communities who will benefit from this newly established cooperation.”


“It is a great pleasure for me to sign the Memorandum of Understanding between BSTDB and EDB. The Memorandum represents a new stage in the development of relations between our institutions. It is very important for us that the commitments fixed by the Memorandum result into real projects. In order to achieve this, the two banks will work closely together and benefit from each other’s experience, resources and expertise,” said Mr. Andrey Beliyaninov, EDB Chairman of the Management Board.




The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit
BSTDB press contact: Ms. Haroula Christodoulou
Phone: +30 2310 290533; e-mail:

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US$7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
EDB Media Centre: +7 (727) 244 05 45, ext. 6147 (Almaty)