Istanbul – July 18, 2024
The 23rd Meeting of the Board of Governors of ECO Trade and Development Bank was held in Istanbul on 18 July 2024.
The Annual Meeting was inaugurated by statements of ETDB President Dr. Mohammad Botshekan, Chairman of the Bank Dr. Mohsen Karimi, other Governors, and ECO Secretary General Ambassador Khusrav Noziri. The Meeting later deliberated on and approved the Annual Report, Financial Statements, Independent Auditors Report as well as Allocation of the Net Income of the Bank.
In his statement, ECO Secretary General highlighted that there exists substantial untapped potential to enhance intra-regional trade flows, and noting the Organization’s objectives for boosting regional trade and attracting investment, he stressed on leveraging the Bank’s resources to support sustainable economic growth through enhanced trade flows.
Secretary General further informed the meeting about the Secretariat’s collaborative efforts with other international institutions for co-financing of some critical regional projects, and invited ETDB to consider joining in such co-financing arrangements. He also noted that the ECO Secretariat remains committed to encouraging the remaining member countries to consider becoming members of the Bank, which will expand the scope and impact of the Bank’s activities.
Established in 2005 as the financial arm of ECO, the ETDB is a multilateral development bank focusing on enhancing trade activities within the ECO region. Current shareholders of the Bank are the governments of Türkiye, Pakistan, Iran, Azerbaijan, Kyrgyz Republic and Afghanistan.
