The eighth annual meeting of the Board of Managers of the Black Sea Bank for Trade and Development (BSBTD) was held in Baku under the chairmanship of Azeri economic development minister Heydar Babayev. BSBTD became the first international financial institution that held its annual meeting in Azerbaijan, Trend reports.
The Board of Managers confirmed the financial statement of the bank for 2005, in
which the credit portfolio of BSBTD increased to more than $670m.
During the meeting, Heydar Babayev was thanked for his successful chairmanship to the Board of Managers since June 2005. The Board elected mangers of BSBTD from Moldova in person of the chairman of the Board, as well as from Azerbaijan and Turkey in person of deputy chairmen of the Board for the period up to the next meeting of the Council of Board scheduled for June 10, 2007 in Kishinev.
The representatives of Black Sea Organization for Economic Cooperation (BSOEC), Business Council and Parliamentary Assembly of BSOEC participated at the meeting of the Board.