"The purpose of the Mechanism is to prepare projects in areas such as the development of regional and municipal infrastructure, increasing the export potential of the BSEC member countries, energy efficiency and the introduction of 'green' technologies, small and medium enterprises in order to give impetus to the development of mutually beneficial cooperation between all countries of the Black Sea region," the ministry said in a statement.
According to the ministry, the donor agreement was signed earlier on Friday on the sidelines of a joint meeting between the Russian government, the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation Organization (BSEC) and the Board of Directors of the Black Sea Trade and Development Bank (BSTDB).
