The financing volume of the Black Sea Trade and Development Bank (BSTDB) in Azerbaijan has increased, APA-Economics reports, citing the Bank.
According to the latest data, the total value of 44 projects approved by the Bank in Azerbaijan rose by 2.5%, or 11.4 million euros, reaching 442.2 million euros.
The value of 46 signed projects increased by 10.9 million euros, or 2.5%, amounting to 439.6 million euros.
BSTDB has increased the number of projects it has allocated funds to from 41 to 42. The total volume of allocated funds rose by 93.6 million euros, or 15.4%, reaching 701.6 million euros.
According to the Bank’s portfolio structure, the largest share of projects falls on financial institutions – 49.37%. The share of the energy sector in the portfolio is 35.88%, real estate accounts for 7.04%, consumer-oriented sectors 3.99%, and fast-moving consumer goods 3.72%.
Recall that the Black Sea Trade and Development Bank (BSTDB) was established in 1996. Acting as shareholders of BSTDB, which is an international financial institution, are 11 countries (Azerbaijan, Türkiye, Albania, Ukraine, Georgia, Bulgaria, Moldova, Romania, Russia, Greece, and Armenia). Supporting the principles of regional cooperation, BSTDB implements projects related to financing initiatives in member countries and participation in share capital. Azerbaijan has been a member of the Bank since 2002 and holds a 5% stake.
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