Finance

Finance

BSTDB to allocate loans to Azeri banks

20 June 2013 10:39 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. The Black Sea Trade and Development Bank (BSTDB) will allocate loans to Azerbaijan-based commercial banks, said the BSTDB President Andrey Kondakov.

According to him, BSTDB will allocate loans to some of Azerbaijan-based banks and these banks will direct these funds to financing of small and medium business: “Generally, 4 loan agreements will be signed – three of them will be signed within the business forum to be held in Baku, one – in BSTDB Annual Meeting”.

Kondakov noted that 85% of operations in BSTDB’s member states falls to share of private sector: “Our recent activity in Azerbaijan’ financial sector was successful. So, we have allocated loans to development of small and medium businesses of the country. Generally, small and medium business is main employment source of Azerbaijan’s private non-oil sector and this sphere will make main part of increase of non-oil sector of the country”.