The President of the National Bank of Georgia Roman Gotsiridze will take part in the 3rd Special Meeting of the Board of Governors of the “Black Sea Trade and Development Bank“ (BSTDB), the aim of which is the appointment of the President of the Bank.   According to the procedures of the  appointment of the Black Sea Trade and Development Bank authorities, the Board of Governors of the above-mentioned financial Institution first selects one of the  bank’s shareholder countries, the representative of which fulfils the functions of the President of the Bank for the contract period.   On August 31 of the current year, during the 2nd Special Meeting of BSTDB in a Greek town of Thesaloniki, the Board of Governors of the Bank assigned this responsibility to Turkey for the period of 2006-2010. The President of the National Bank of Georgia Roman Gotsiridze supported this decision. As the Turkish side was unable to submit its candidature, the issue was postponed for the next meeting of the Board of Governors of BSTDB.   Turkey, Russia, and Greece are the principal shareholders within the structure of the Black Sea Trade and Development Bank (BSTDB), each possessing the 16,5% of shares, Bulgaria, Romania and Ukraine – 13,5%, Albania and Azerbaijan – 2%, and Georgia, Armenia and Moldova - 1%. On 2004  Georgia’s share in the authorized capital decreased from 2% to 1% because of the solid indebtedness.   Black Sea Trade and Development Bank, the Head Office of which is located in a Greek town of Thesaloniki was established for the purposes of assisting BSEC member states (Black Sea Economic Cooperation Organization) in overcoming their financial  difficulties. Agreement on establishing the Black Sea Trade and Development Bank was signed in Tbilisi at the Meeting of the Ministers of Foreign Affairs of BSEC Member Countries on June 30, 1994 and it was ratified by the Parliament of Georgia on December 25, 1996.   Starting from June 1, 1999, following the organizational and legislative procedures, the Black Sea Trade and Development Bank began conducting its financial operations. BSTDB opened the credit lines in the amount of USD 18 mln. for Joint-Stock Companies: „Bank of Georgia“, „TBC Bank“, Bank „Republic“, „United Georgian Bank“ and „Procreditbank“. Besides, it carries out the projects of the Credit-Insurance Agency of Export Development and Poti Oil Terminal Reconstruction, the total volume of which is more than USD 8 mln.