TuranBank and the Black Sea Trade and Development Bank (BSTDB) have signed a new loan agreement worth $ 5 million to expand financing of international trade operations. The attracted funds will allow TuranBank to expand import and export operations between member countries and support customers' trade operations.
We would like to inform you that TuranBank has successfully developed cooperation with the Black Sea Trade and Development Bank since 2011 and financed various business areas. It should be noted that the Black Sea Trade and Development Bank for the first time in the financial market of Azerbaijan implemented a credit line in local currency through TuranBank. The Bank continues to support the development of small and medium enterprises with these funds.
The Black Sea Trade and Development Bank (BSTDB) was established in 1999 to support the regional development and cooperation of the Black Sea region. The BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees to finance public and private sector projects and trade in member countries. The authorized capital of the Bank is 3.45 billion euros. The Bank participates in the financing and capital of projects in member countries following the principles of the development of regional cooperation.
TuranBank is also successfully developing cooperation with other international financial institutions to attract credit lines for institutional development and financing of business entities. Our bank by cooperating with reputable financial institutions such as the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the EMF Microfinance Fund, the ECO Trade and Development Bank (ECO TDB), Sparkassenstiftung, etc. on small and medium entrepreneurship projects strongly supports the sustainable development of the non-oil sector.
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