Operational documents approved in the last meeting before the commencement of the Bank's operations
Press Release | 26-May-1999
The 8th regular meeting of the Board of Directors of the Black Sea Trade and Development Bank (BSTDB) occurred in Thessaloniki, Greece, on 21-22 May 1999. This meeting was the last before the commencement of the Bank's operations, which will take place on 1 June 1999.
The Board approved six policy documents of major significance:
- "Standard Terms and Conditions" for loans, guarrantees and other financial accomodations
- "Trade Finance Programme"
- "Project Cycle" document
- "Treasury Investment Authority"
- "Guidelines for the Appraisal and Selection of Financial Intermediaries"
- "Country Risk Rating System"
The Business Plan of the bank was also thoroughly examined in this meeting, and the relevant guidelines for its operation were unanimously clarified.
Finally, the Board approved the 1999 Budget. The Budget was approved in principle at the previous meeting of the Board in Kiev, Ukraine.
The Directors of the Bank expressed their assertion for successful development of its operations and decided that their next meeting will be held in Thessaloniki on 22 June 1999.