Azerbaijan, Baku / Trend corr. I.Khalilova / The Black Sea Bank of Reconstruction and Development is planning to approve eight operations at the Council of Directors within the four year framework of the new strategy of cooperation with the Azerbaijani Government envisaged for 2007-2010, the Azerbaijani Ministry of Economic Development reported. The bank is ready to allocate SDR 40mln.
The bank is also planning to render assistance to implement the State program on the reduction of poverty and economic development for 2007-2016.
The Black Sea Bank of Reconstruction and Development is also ready to back the agrarian business by financing projects in food industry. The main goal of the programs will be to improve productivity in agriculture, as well as financing infrastructure.
The bank will finance mid sized projects jointly with international financial institutions. The bank can finance operations connected to leasing and micro financing in rural area.
The Black Sea Bank of Reconstruction and Development is one of the co-founders of the Azerbaijani Bank of Micro Financing. The bank finances small and medium sized entrepreneurship through loans.
The bank has financed nine projects in amount of $32.73mln since cooperation began with Azerbaijan. Credit lines were opened for the International Bank of Azerbaijan, Bank Respublika, Texnika Bank, Azerdemiryolbank, Kapital Bank, Unibank and Azerbaijani Bank of Micro Financing.