Azerbaijan intends to expand its cooperation with the Black Sea Trade and Development Bank (BSTDB), Azerbaijani Finance Minister and BSTDB Governor for Azerbaijan, Sahil Babayev, said at the opening ceremony of the 28th Annual Meeting of the Bank’s Board of Governors, APA-Economics reports.
He said that the BSTDB demonstrated resilience over the past year, expanded its operational activities, and successfully fulfilled its regional development mandate.
According to the minister, in 2025, the Bank approved 31 new projects with a total value of more than 668 million euros, representing an increase of approximately 81% compared to the previous year. At the same time, the Bank’s operational portfolio reached 1.5 billion euros, reaffirming its role and effectiveness as a regional development institution.
Sahil Babayev noted that Azerbaijan is interested in further expanding cooperation with the BSTDB in various areas, including infrastructure, renewable energy, transport connectivity, and financial sector development.
He stressed that the Bank’s focus on energy security aligns with Azerbaijan’s strategic priorities. Noting that Azerbaijan continues to contribute to strengthening the region’s energy security as a reliable energy supplier and strategic transit hub, as well as to the diversification of supply sources and transport routes, the minister said the country plays a key role in enhancing regional connectivity through the Middle Corridor, East-West, and North-South transport corridors.
The minister added that, as one of the founding members of the BSTDB, Azerbaijan will continue to support strengthening the Bank’s institutional capacity and, together with member countries, further develop cooperation aimed at promoting sustainable economic growth, regional cooperation, and shared prosperity.
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