TuranBank OJSC, one of the leading banks in Azerbaijan supporting the real sector, continues to attract financial resources from international institutions due to its successful operations.
In this regard, a new loan agreement has been signed between TuranBank and the Black Sea Trade and Development Bank (BSTDB) to further support the financing of small and medium-sized businesses. Under the terms of the agreement, the international financial institution has allocated a loan to the Bank in local currency, amounting to the equivalent of 6 million US dollars, for a period of 2 years.
“BSTDB is pleased to continue its partnership with TuranBank to empower SMEs in the country, giving them access to resources they need to grow, innovate and drive inclusive economic progress. This will help unlock employment opportunities and foster sustainable development both within the country and across the region. We are confident that our joint efforts will continue to deliver meaningful results in the future.”, said Dr. Serhat Köksal, BSTDB President.
“The funds raised in local currency under this agreement between TuranBank and the Black Sea Trade and Development Bank will be allocated to financing micro, small, and medium-sized enterprises (MSMEs), which are central to the Bank's strategic objectives. This initiative will help create favorable conditions to support entrepreneurs operating within the country. This agreement is yet another significant indication of the confidence that international financial institutions have in the long-term stability and sustainable development of our Bank as a reliable partner,” said Orkhan Garayev, Chairman of the Management of TuranBank OJSC.
It is worth noting that TuranBank has been successfully developing its cooperation with the BSTDB since 2011, providing financing across various business sectors. The Bank continues to support the development of small and medium-sized enterprises (SMEs) with the help of these funds.
BSTDB was established in 1999 to support regional development and cooperation in the Black Sea region. The Bank fosters economic development and regional cooperation by providing loans, credit lines, equity, and guarantees to finance projects and trade in both the public and private sectors of its member countries. BSTDB participates in the financing and equity of projects within member countries, guided by the principles of regional cooperation.
Since its establishment, TuranBank has continuously developed, expanding to 22 sales points over the course of 33 years, and has secured a significant position in Azerbaijan’s financial sector in terms of both quality and quantity of services. The Bank is one of the key participants in the country’s financial sector, distinguished by its stability and reliability. For detailed information about the products and services offered by the Bank, you can call the 935 call center, visit TuranBank's official website , or follow its social media pages.
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