Annual sitting of BSBTD in 2006 to be held in Baku

Business Materials 14 December 2005 20:42 (UTC +04:00)

Holding of the annual sitting of the management board of the Black Sea Bank for Trade and Development (BSBTD) is scheduled for May-June 2006 in Baku, the government told Trend. It is related to the Azerbaijan’s chairmanship in the bank, which the country assumed since June 2005. It will last till the year-end. Prior to it Armenia chaired BSBTD.

The cooperation between the Black Sea bank and Azerbaijan is based on strategy, approved in March 2005 at the bank’s Board of Directors. A new strategy is designed for the following three years, however the volumes of financing depend on the fulfillment of the commitments by the country on payment of the membership fees.