BSTDB considering new opportunities for developing co-op with Azerbaijan

The Black Sea Trade and Development Bank (BSTDB) is considering new opportunities for developing cooperation with Azerbaijan, especially in the field of renewable energy sources, BSTDB President Dmitry Pankin told journalists, Report informs.

He noted that Azerbaijan is an important shareholder of the Black Sea Trade and Development Bank.

He added that the situation in the world has changed due to the war in Ukraine, and the bank needs to determine what its role and contribution will be today.

The 24th annual meeting of the Black Sea Trade and Development Bank (BSTDB) kicked off June 23 in Baku.

BSTDB is an international organization bringing together 11 states of the Black Sea Economic Cooperation Organization. The distribution of shares in the organization is as follows: Turkiye, Russia and Greece - 16.5% each, Romania - 14%, Ukraine and Bulgaria - 13.5% each, Azerbaijan - 5%, Albania - 2%, Armenia - 1%, Georgia and Moldova - 0.5% each. The Bank seeks to develop economic cooperation, trade and interaction among the countries of the Black Sea region.