July 16 (SeeNews) - The board of governors of the Black Sea Trade and Development Bank (BSTDB) appointed Ihsan Ugur Delikanli as president of the bank, it said on Wednesday.
Delikanli was appointed for a period of four years starting on July 16, following a proposal by the government of Turkey, BSTDB said in a press release.
Delikanli replaces Andrey Kondakov, who has run the bank since July 2010.
The BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. Its headquarters are in Thessaloniki, Greece. The bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries.