BSTDB Holds the 26th Annual Meeting of the Board of Governors in Istanbul
Event Marks 25 Years of Resilience and Impact in the Black Sea RegionOn 6 December 2024, in Istanbul, the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) held its 26th Annual Meeting under the Chairmanship of Mr. Osman Çelik, Deputy Minister of Treasury & Finance and BSTDB Governor for the Republic of Türkiye.The Governors evaluated the Bank’s operational activities and expressed their support to the President and management team, recognizing their vision, leadership and innovation in making BSTDB a catalyst for positive change in the Black Sea region.
This year, BSTDB celebrates a significant milestone—its 25th anniversary. Over the past quarter-century, the Bank has weathered economic crises and navigated global and regional challenges with remarkable resilience. This steadfast approach has enabled BSTDB to disburse over €8.8 billion in loans, benefitting hundreds of private and public sector clients across the Black Sea region. The Bank’s investments have bolstered national economic priorities in its member countries, spanning critical sectors such as manufacturing, infrastructure, energy, transport, telecommunications, agriculture, and finance. This enduring commitment underscores BSTDB's pivotal role in fostering economic growth and regional cooperation.
Mr. Osman Çelik, Chair of the BSTDB Board of Governors, stated, “As we mark this significant milestone in the Bank’s history, we celebrate the resilience and commitment of BSTDB in supporting economic growth in the Black Sea region. Our achievements over the past 25 years stand as a testament to our shared vision for a stronger, more connected future. I am proud of the work we have accomplished together and look forward to even greater progress.”
BSTDB President, Dr. Serhat Köksal, said: “Today we celebrate our 25th anniversary, and we take pride in our legacy while reaffirming our commitment to the challenges and opportunities ahead. I extend my heartfelt gratitude to all the Bank’s staff for their dedication and resilience in overcoming the many challenges we have faced and driving our success. Together, we will continue this journey of progress, with innovation and sustainability guiding our efforts into the future.”
The BSTDB Board of Governors approved Phase 2 of the Medium Term Strategy and Business Plan 2023-2026, covering the 2025-26 period. Following a war-induced hiatus from 2022-2024, which necessitated consolidation in order to preserve the health of the institution, the Bank now seeks to return to its successful pre-2022 business model of steady, measured growth.The Board elected Mr. Artur Javadyan, BSTDB Governor for the Republic of Armenia as the new Chairman of the Board of Governors for 2025.
