BSTDB was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine which are the 11 founding countries of the Black Sea Economic Cooperation (BSEC) as a financial pillar of BSEC. Since 1999, BSTDB cumulative portfolio in its 11 member countries has exceeded 265 approved operations in the key sectors of infrastructure, energy, transport, manufacturing, telecommunications, financial sector and other important areas reaching total lending of close to EUR 3 billion.