Multilateral Development Banks
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Black Sea Trade and Development Bank (BSTDB)
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Black Sea Trade and Development Bank (BSTDB)

by Selin CanJuly 11, 2017
Overview
Abbreviation

BSTDB

Founded

1997

Headquarters

Thessaloniki, Greece

Phone Number

+30 2310 290-400

Website

http://www.bstdb.org

Black Sea Trade and Development Bank (BSTDB)

The Black Sea Trade and Development Bank (BSTDB) is multilateral development bank serving the eleven countries that are members of the Organization of the Black Sea Economic Cooperation, a regional economic organization. It supports economic development and regional cooperation by providing trade and project financing, guarantees, and equity for development projects. BSTDB supports both public and private enterprises in its member countries and does not attach political conditionality to its financing.

Objectives of the bank include promoting regional trade links, cross country projects, foreign direct investment, supporting activities that contribute to sustainable development, with an emphasis on the generation of employment in the member countries, ensuring that each operation is economically and financially sound. The bank has an authorized capital of EUR 3.45 billion.

BSTDB is governed by the Agreement Establishing the Black Sea Trade and Development Bank, a United Nations registered treaty. The Agreement came into force on January 24, 1997. BSTDB commenced its operational activities in June 1999.

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About The Community Member
Selin Can
Multilateral development banks, or MDBs, are supranational institutions set up by sovereign states, which are their shareholders. Their remits reflect the development aid and cooperation policies established by these states. They have the common task of fostering economic and social progress in developing countries by financing projects, supporting investment and generating capital. MDBs also play a major role on the international capital markets by annually raising the large volume of funds required to finance their loans.

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