BSTDB Holds its Annual Meeting in Greece
Event | 12-Jun-2016
The Board of Governors of the Black Sea Trade and Development Bank
(BSTDB) held its 18th Annual Meeting under the Chairmanship of Mr. George
Stathakis, Minister of Economy, Development and Tourism of Greece, in Chania,
Crete.
The Board reconfirmed the strong support of shareholding Governments
for the Bank and its growing contribution to regional development.
The Governors supported the ongoing implementation of the Bank's
strategy for 2015-2018, which envisages a manageable annual portfolio growth of
7.5% , while achieving a balanced portfolio distribution by country and sector.
The Board approved the 2015 financial statements and the allocation of
the net profit of EUR 15.2 million registered by the Bank - the 11th
consecutive year it has been in profit.
The Board of Governors resolved to grant BSTDB Observer Status to the
Islamic Corporation for the Development of the Private Sector, a private sector
arm of the Islamic Development Bank, to facilitate cooperation in the common
member countries of Albania, Azerbaijan and Türkiye.
The Board elected the Governor for Moldova as Chairman of the Board of
Governors. The Governors for Romania and for the Russian Federation were
elected Deputy Chairmen, for a period of one year until the next BSTDB Annual
Meeting which will take place in Chisinau (Moldova) in June 2017.
The Annual Meeting was attended by Representatives of the
Parliamentary Assembly and the Business Council of the Black Sea Economic
Cooperation and the BSTDB Observer institutions of: EBRD, EIB, IFC, IIB, KfW,
and the Development Bank of Austria.