of 76 members. English, French, Russian and Turkish are the working languages of PABSEC. The President of PABSEC is Archil Talakvadze from Georgia, the Vice-President is Anush Beghloyan from Armenia. Russia was expelled in December 2022. Black Sea Economic Cooperation Organization Business Council (BSEC BC) The Black Sea Economic Cooperation Organization Business Council was formed in 1992 as an international, non-governmental and non-profit organization to strengthen the improvement of the business environment within Black Sea region. Business Council represents the business communities of member states. The International Secretariat of Business Council is based in Istanbul. Black Sea Trade and Development Bank (BSTDB) The Black Sea Trade and Development Bank (BSTDB) is an international financial institution that was formed 24 January 1997. It supports economic development and regional cooperation by providing trade and project financing, guarantees, and equity for development projects supporting both public and private enterprises in its member countries. Objectives of the bank include promoting regional trade links, cross country projects, foreign direct investment, supporting activities that contribute to sustainable development, with an emphasis on the generation of employment in the member countries, ensuring that each operation is economically and financially sound and contributes to the development of a market orientation. The organization has an authorized capital of $1.325 billion. The bank's headquarters are located in Thessaloniki, Greece. BSTDB is governed by the Agreement Establishing Black Sea Trade and Development Bank, a United Nations registered treaty. Unlike the International Monetary Fund and others, the BSTDB does not attach policy conditions by which debtor states can be controlled. The Bank has a long term credit rating of 'A' from Moody's Investors Service and an 'A3' from Standard & Poor's, both with a stable outlook. International Centre for Black Sea Studies (ICBSS) The International Center for Black Sea Studies is an independent think tank focused on the wider Black Sea region, which serves as a related body of BSEC at the same time. It was established in 1998. BSEC Coordination Center for the Exchange of Statistical Data and Economic Information (BCCESDEI) The BSEC Coordination Center for the Exchange of Statistical Data and Economic Information was established with the aim to collect statistical and economic information, accomplish secretarial functions, coordinate obtained data and share it with member countries. Working Groups Member states are cooperating on different issues within the Working Groups. They are the following: The functions of Working Groups, of which