BSTDB Holds Annual Meeting Events in Chisinau

On 2 July 2017, The Board of Governors of the Black Sea Trade and
Development Bank (BSTDB) held its 19th Annual Meeting in Chisinau, under the
Chairmanship of Octavian Armasu, Minister of Finance of the Republic of Moldova.

The Board of Governors approved the BSTDB Annual Report and Financial Statements
for 2016. The Bank posted a net profit for the twelfth consecutive year. The
Board of Directors approved 20 new operations for over EUR 433 million.  The outstanding portfolio grew to EUR 1,2
billion, a 7% increase over 2015.
Disbursements surged by nearly 20% over the year to exceed EUR 443
million.

The Board elected the Governor for the Russian Federation as Chairman
of the Board of Governors. The Governors for Romania and the Republic of Türkiye
were elected as Deputy Chairmen, for a period of one year until the next BSTDB
Annual Meeting decided to take place in Russia in 2018.

On 3 July 2017, BSTDB held a regional Business Forum titled “Moldova:
Working Together to Support Growth” under the auspices of the Moldovan
Government and in close cooperation with the Ministry of Finance and the
Chamber of Commerce and Industry and the European Business Association of the
Republic of Moldova.

The event gathered nearly 300 business participants from Moldova and
other countries of the Black Sea region.

At the Forum, economic policy makers, business leaders and
representatives of development financial institutions exchanged views on best
practices that may support increased investments and sustainable growth in the
country with a particular focus on banking sector reforms and access to capital
for businesses. The Forum offered a good opportunity to present Moldova’s
investment priorities and opportunities to the international financial and
development community.

BSTDB used the event to promote its business contacts with Moldovan
banks and companies, with over 40 bilateral meetings held by BSTDB bankers with
interested participants.

BSTDB signed Memorandums of Understanding with the National Bank of
Moldova to facilitate access to international expertize and technical
assistance in the banking sector, and with the Chamber of Commerce and Industry
to improve Bank’s outreach and the awareness of its products and services with
the Moldovan business community, especially outside the capital.