• IBEC Primary Participation in the Annual Meeting of the Black Sea Trade and Development Bank Board of Governors
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IBEC Primary Participation in the Annual Meeting of the Black Sea Trade and Development Bank Board of Governors

On 1-2 July 2018 года D. Ivanov, IBEC Chairman of the Board, participated in the events of the jubilee 20th Annual Meeting of the Black Sea Trade and Development Bank (BSTDB) Board of Governors which this year took place in the city of Sochi, the Russian Federation. The meeting of the BSTDB Board of Governors was chaired by S.A. Storchak, Deputy Minister of Finance of the Russian Federation.

By S.A. Storchak’s invitation, D. Ivanov, IBEC Chairman of the Board, delivered a speech in which he presented the Bank to the high audience as well as informed the participants on the key results of the 131st IBEC Council Meeting during which the shareholders approved of the Bank’s further development concept, its business profile and a go-ahead on a convergence of IBEC with its long-term partner: the International Investment Bank (IIB).

D. Ivanov pointed out the importance of IBEC’s strategic partnership with other development institutions, to quote: ‘we have mutual member states with BSTDB and IIB: these are Bulgaria, Romania and Russia. The intersection of shareholders is just a starting point for closer ties between our banks, while a comprehensive support of international projects within each bank’s business profile would be the next logical step in our open-handed intention to co-operate and exchange ideas and capacities’. As a practical step, IBEC’s Chairman of the Board proposed to establish an information pool and an exchange channel between regional and intraregional MDBs.

The Bank’s Chairman of the Board also participated in BSTDB-arranged Business Forum titled “BSTDB: Supporting Russia’s Growth and Regional Cooperation” which gathered 200 participants, mostly from the South of Russia. At the forum BSTDB presented its financial products and sample BSTDB projects. During networking meetings the forum’s participants discussed investment and cooperation opportunities.

The participation in the BSTDB events is a start of implementation of IBEC’s new development concept within which the Bank intends to use its co-operation with other MDBs as one of the basic points for its own development and the Bank’s regional expansion.