Regional economic cooperation took centre stage in Baku as the 28th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank was held alongside a Business Forum. The event brought together government officials, business leaders and experts from across the region.
President of the Black Sea Trade and Development Bank (BSTDB) Serhat Köksal praised Azerbaijan's economic development, describing the country as a strategic transport and logistics hub connecting Europe and Asia.
He also reaffirmed the Bank's commitment to supporting Azerbaijan's sustainable development through new investment projects and continued financial cooperation.
Speaking at the forum, Sahil Babayev said discussions centred on expanding transnational projects across the South Caucasus and Black Sea region.
He said priorities included strengthening support for transport corridors, advancing regional energy projects and increasing financing for small and medium-sized enterprises (SMEs) in Azerbaijan and other member states.
During the annual meeting, the Board of Governors reviewed the Bank's performance in 2025, approved its financial statements and discussed the institution's budget for 2026.
The Board also confirmed that Bulgaria will host the 29th Annual Meeting of the Board of Governors in 2027.
Headquartered in Thessaloniki, the Black Sea Trade and Development Bank is the development finance institution of the Organization of the Black Sea Economic Cooperation.
The bank finances public and private sector projects across its 11 member states through loans, guarantees, investments, credit lines and trade finance, with the aim of promoting regional economic growth and integration.
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