New BSTDB Vice President Finance Assumes Duties

Press Release | 22-Jul-2004

Following the proposal of the Government of the Republic of Bulgaria, the BSTDB Board of Directors appointed Mr. Plamen Petrov as Vice President Finance of the Black Sea Trade and Development Bank. Mr. Petrov took up his duties as of July 15, 2004, upon expiration of the term of office of Mr. Andrei Vernikov.

Born in 1966 in Haskovo (Bulgaria), Mr. Plamen Petrov studied Economics at the University of National and World Economy in Sofia and has accomplished his postgraduate studies in the United States at the University of Missouri - Columbia and Thunderbird- The American Graduate School of International Management. Mr. Petrov is a Chartered Financial Analyst since 1999.

Having started his career in banking in 1994, Mr. Petrov developed the North American equity desk of Societe Generale Securities Corp. for Eastern Europe after 1995. He also invested for major US funds focusing on Bulgaria and the largest deal was the consolidation of the cable TV industry into Cable Bulgaria, AD in 1999. From 2001 to 2003, Mr. Plamen Petrov was the Minister of Transport and Telecommunications of Bulgaria, responsible for all policies related to the transport and telecommunications infrastructure. In this capacity he launched a number of large infrastructure, restructuring and development projects, financed with the support of International Financial Institutions such as EIB, EBRD, the World Bank, etc.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. With an authorized capital of SDR 1 billion (approx. USD 1.3 billion), the Bank supports economic development and regional cooperation by providing financing, guarantees, and equity for projects in public and private sectors in its member countries.