BAKU, Azerbaijan, December 9. The Black Sea Trade and Development Bank (BSTDB or the Bank) and Standard Chartered Bank (Standard Chartered) have inked a EUR 75 million long-term loan facility agreement, Trend reports via the Bank.
The funds from this facility are earmarked for vital development projects across Albania, Azerbaijan, and Türkiye, reinforcing BSTDB's role in promoting sustainable economic growth.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is supporting this facility.
Standard Chartered is the Mandated Lead Arranger, ICIEC Coordinator and Structuring Bank and Bookrunner. By leveraging Standard Chartered's expertise and ICIEC's risk mitigation capabilities, BSTDB is taking decisive steps toward bolstering economic stability and growth in the region. This facility embodies a strategic collaboration aimed at reinforcing the Bank’s mission to empower its member states through impactful financial partnerships. The facility earmarks developmental projects where the mandates of ICIEC and BSTDB intersect, thereby strengthening the collaboration between the institutions.
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