Development financial institution ( DFI ), also known as a Development bank , is a financial institution that provides risk capital for economic development projects on a non-commercial basis.
8-608: The Black Sea Trade and Development Bank (BSTDB) is an international development finance institution serving the eleven member founding countries of the Black Sea Economic Cooperation , a regional economic organization. It supports economic development and regional cooperation by providing loans, guarantees, and equity for development projects and trade transactions. BSTDB supports both public and private enterprises in member countries and does not attach political conditionality to its financing. Objectives of
16-407: A company that provides loans for projects that a government or nonprofit wants to encourage for non commercial reasons. They can be at a local, national or international level. DFIs include multilateral development banks , national development banks , bilateral development banks, microfinance institutions , community development financial institution and revolving loan funds . DFIs can play
24-428: A crucial role in financing private and public sector investments in developing countries, in the form of higher risk loans, equity positions, and guarantees. DFIs often provide finance to the private sector for investments that promote development and to help companies to invest, especially in countries with various restrictions on the market. As of November 2020 , development banks and private finance had not reached
32-861: Is overseen by the Board of Governors, Board of Directors, the President, three Vice Presidents and the Secretary General. The head of the Board of Directors and the chief executive of the Bank is the Director. Board of Directors appoints the Vice Presidents and the Secretary General. In 2018, Dmitry Pankin was appointed the President for the term of four years. Pankin was succeeded by Serhat Köksal in July 2022. Each shareholder appoints one person to
40-595: The Black Sea Economic Cooperation organization, however they do not have any shareholding percentages in the bank. Observer organizations of the Black Sea Trade and Development Bank, include: Development finance institution DFIs are often established and owned by governments or nonprofit organizations to finance projects that would otherwise not be able to get financing from commercial lenders. They are often structured as
48-509: 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. In April 2022, Moody's Investors Service rated BSTDB "A2" long term with stable outlook. Standard & Poor's rating agency assigned BSTDB a long term issuer rating of "A−" with stable outlook. Scope Ratings evaluates BSTDB at A− with negative outlook. The Bank
56-416: The Board of Governors and one to the Board of Directors. Although the Black Sea Economic Cooperation organization has thirteen members, membership in the bank only includes the eleven founding members: Bank members and their shareholdings: Each shareholder has an obligation to pay additional capital if called upon, in total an additional €1.602 billion. Serbia and North Macedonia are full members of
64-488: 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
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