How we are structured
Board of Directors
Subject to the Board of Governors' overall authority, the Board of Directors is responsible for the direction of the Bank's general operations.
Under Article 26 the Board of Directors “shall be responsible for the direction of the general operations of the Bank and for this purpose shall, in addition to the powers assigned to it expressly by this Agreement, exercise all the powers delegated to it by the Board of Governors, and in particular take decisions concerning the business of the Bank and its operations in conformity with the general directions of the Board of Governors.”
The Board of Directors is non- resident. Its activity is governed by two documents: (i) “Board of Directors Rules and Procedures”; and (ii) the “By-Laws of BSTDB”, both approved by the Board of Governors.
| Country | Director | Alternate Director | ||
|---|---|---|---|---|
|
Mr. Gentian KËRI Secretary General, Ministry of Finance |
Position Vacant |
||
|
Mr. Davit NAHAPETYAN |
Ms. Milena HOVHANNISYAN |
||
|
Mr. Famil ISMAYILOV Head, International Cooperation Department, Ministry of Finance |
Position Vacant |
||
|
Ms. Milena BOIKOVA |
Position Vacant |
||
|
Ms. Ekaterine GUNTSADZE Deputy Minister of Finance |
Position Vacant |
||
|
Mr. Christos GEROULANOS Head, Department of International Financial Institutions & Development Banks, Ministry of Economy & Finance |
Position Vacant |
||
|
Mr. Alexandru RODIDEAL |
Position Vacant |
||
|
Ms. Diana BLINDU Head of Division, Management of External Loans, General Directorate for Financial Relations, Ministry of Finance |
Position Vacant |
||
|
Mr. Dmitry BIRICHEVSKIY |
Position Vacant |
||
|
Mr. Kerem DŐNMEZ |
Position Vacant |
||
|
Mr. Taras KACHKA |
Position Vacant |
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Board Calendar
Meeting No Location Date of Meeting 179 Board of Directors Meeting February 5 & 6, 2026 180 Board of Directors Meeting March 18 & 19, 2026 181 Board of Directors Meeting May 14 & 15, 2026 182 Board of Directors Meeting Jun 30, 2026 28 Board of Governors Meeting July 1, 2026 183 Board of Directors Meeting September 29 & 30, 2026 184 Board of Directors Meeting December 3 & 4, 2026 -
Audit Committee
BSTDB follows best international practices in adopting documents which provide guidance for its main activities. The policy framework adopted by BSTDB is based upon the broad guidelines laid out in its statutory documents, and together with its strategies, form the Bank’s most important directional documents for undertaking initiatives and working in various areas.
The Audit Committee assists the Board of Directors in carrying out its responsibilities with regard to financial and other reporting issues, internal control and compliance with agreements, rules, regulations, policies and codes. It promotes the “control awareness” culture throughout the organization.
According to its Terms of Reference, the Audit Committee: Reviews the financial statements and general accounting principles of the Bank. Ensures that the combined external and internal audits adequately cover the various risk areas. Discusses with the External Auditors the scope and content of their work and evaluates their performance.The work of the Audit Committee is governed by its rules of Procedures and Terms of Reference.
- Reviews the policy, scope, work programme and reporting relating to the Bank's internal audit and post evaluation.
- Oversees the status, ability to perform duties independently and the performance of compliance, internal audit, post evaluation and risk management functions.
- Summarizes and channels to the attention of the BOD, suggestions of the members of the management concerning the business and the functioning of the Bank.
The work of the Audit Committee is governed by its rules of Procedures and Terms of Reference.
Audit Committee Members
Ms. Milena BOIKOVA
Director for the Republic of BulgariaChairperson Mr. Gentian KËRI
Director for the Republic of AlbaniaMr. Davit NAHAPETYAN
Director for the Republic of ArmeniaMs. Ekaterine GUNTSADZE
Director for Georgia