The Black Sea Trade and Development Bank (BSTDB) has announced plans to more than double its balance sheet in a bid to boost its presence in central and eastern Europe (CEE).
Set up in 1997, the bank is an offshoot of a Turkish-led project to promote economic cooperation between countries around the Black Sea.
Since starting operations in 1999, it has distributed around €5 billion in funding but has struggled to define its role in a region well-covered by the European Bank for Reconstruction and Development (EBRD) and other western development organizations.
The task has been complicated by BSTDB’s disparate and often discordant membership.
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