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New BSTDB president assumes duties

Monday, July 19
Following a proposal of the Government of the Russian Federation, the BSTDB Board of Governors appointed Mr. Andrey Kondakov President of the Bank as of July 16, 2010 for a period of 4 years, replacing Mr. Hayrettin Kaplan (Turkey).

Born in 1960, Mr. Kondakov started his professional career in 1982 as a researcher, specializing in international investment project financing. In 1988 he joined the Ministry of Foreign Affairs, Department of International Economic Relations and held progressively responsible positions in Moscow and abroad before becoming Director of the Department in 2002. Throughout his career, he was mainly in charge of issues of Russia’s participation in International Financial Institutions, investment and financial relations and regional economic cooperation. In 2006, he became a Member of the Collegium of the Ministry of Foreign Affairs (Ministerial Board). Mr. Kondakov served as a Russian G8 Foreign Affairs Sous-Sherpa and a member of the governmental commissions of the Russian Federation on the Accession to the WTO and OECD. He also headed the Russian delegations to the accession talks with the Asian Development Bank and Inter-American Development Bank. In 2003 - 2007 he represented Russia on the BSTDB Board of Directors. In 2007-2010 Mr. Kondakov served as Vice-President Banking of BSTDB.

He is a graduate of the Economics Faculty of the Moscow State University and has a Ph.D in Development Economics.

Mr. Kondakov is married and has two children.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.