Finance

Finance

Black Sea Trade and Development Bank plans to make an investment in the non-financial sector in Azerbaijan

21 October 2009 15:55 (UTC +04:00)

Baku. Vahab Rzayev - APA-ECONOMICS. The Black Sea Trade and Development Bankâ€™s investment portfolio for Azerbaijan is $60 million, said Hayrettin Kaplan, President of the Black Sea Trade and Development Bank.

According to him, this amount includes active investment and loans made in Azerbaijan.

He said the BSTDB cooperates with 8 commercial banks, especially in trade financing and supports small and medium businesses.

In addition, the BSTDB holds an equity stake in AccessBank.

According to him, as part of expanding activities in Azerbaijan, the bank intends to work together with private enterprises operating in the energy and the manufacturing sectors.

The Black Sea Trade and Development Bank (BSTDB) was established in 199 by the founding 11 member countries of the Black Sea Economic Cooperation (BSEC) - Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine as a regional multilateral development bank and financial pillar of BSEC.