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 AzerbaijanвЂ™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 bankвЂ™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.