BSTDB Board of Governors Holds 28th Annual Meeting in Baku
Governors review the Bank's performance, endorse its strategic direction and reaffirm support for regional development and cooperation
The Board of Governors of the Black Sea Trade and Development Bank (BSTDB) held its 28th Annual Meeting in Baku bringing together Governors from the Bank’s member countries to review BSTDB’s performance, discuss regional economic developments and set strategic priorities for the years ahead.
Hosted by the Republic of Azerbaijan, the Meeting was attended by senior management and representatives of the Organization of the Black Sea Economic Cooperation (BSEC) and observer institutions, reaffirming the importance of multilateral cooperation in supporting sustainable development across the Black Sea region.
The Governors reviewed the Bank’s operational performance and strategic priorities, including preparations for the Medium-Term Strategy and Business Plan for 2027–2030. They also approved the Bank’s 2025 Financial Statements and elected the Republic of Bulgaria to chair the 29th Annual Meeting of the Board of Governors in 2027.
Opening the Meeting, Sahil Babayev, Minister of Finance and BSTDB Governor for the Republic of Azerbaijan, underlined the importance of strengthening regional cooperation in a rapidly evolving global environment. He noted that BSTDB has become a trusted partner for Azerbaijan, supporting private sector development, infrastructure financing and trade facilitation, and expressed Azerbaijan's interest in further expanding cooperation across priority areas.
Dr. Serhat Köksal, President of BSTDB, thanked the Government of Azerbaijan for hosting the Annual Meeting and highlighted the Bank’s strong financial and operational position as it prepares for its next phase of development.
“BSTDB has emerged stronger and is well positioned to pursue organic growth and work towards fulfilling your expectations for the institution,” said Dr. Köksal to the Board. “We remain committed to steady, managed growth as we formulate our Medium-Term Strategy and Business Plan for 2027–2030 in consultation with our shareholders.”
Dr. Köksal also highlighted Azerbaijan’s important role as a founding member of BSTDB and a growing transport and logistics hub connecting East and West, as well as North and South, expressing the Bank’s intention to deepen cooperation in support of the country’s economic priorities, private sector development, regional connectivity and sustainable growth.
As part of the Annual Meeting programme, BSTDB will host the Business Forum, "Connecting Markets, Diversifying Economies: Azerbaijan as a Regional Hub," on 2 July. The Forum will bring together representatives of governments, international financial institutions, investors and business leaders to explore opportunities for investment, regional connectivity and sustainable economic growth.
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. 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. For information on BSTDB, visit www.bstdb.org.
