Azerbaijan, Baku / corr Trend I.Khalilova / Within the framework of mid-term strategy by 2010 the Black Sea Bank for Trade and Development (BBTD) intends to increase its participation in the stock capital of enterprises in the member-countries, Andrey Kodakov, the visiting Vice President of the BBTD, said on 6 December.
The bank's portfolio was diversified in the following way: 71.35% is directed at project financing, 17.04% - development of small and medium scale business, 9.18% trade financing, and 2.43% participation in the capital.
In accordance with it strategy, the BBTD is prepared to increase participation share in the capital to 10% of the portfolio, Kodakov said. Since the beginning of cooperation with the bank, only one deal was concluded with Azerbaijan in this direction. The BBTD acts as shareholder of the Azerbaijan Micro Finance Bank and holds 25.55% of stock.
According to the Vice President, at present discussion are held on in ease of investments in the stock capital in Azerbaijan. It will be included in the new strategy on the country, which will be developed starting from the beginning of 2008. Under the strategy new directions of cooperation, diversification of financial resources and increase the volume of financing are planned.
Major part of the total portfolio (32.1%) of the BBTD is directed at financing projects финансирование in the production sector, 31% financial institutes, 16% energy sector, 12.2% - transport sector, 7.7% telecommunications, 1% agriculture, forestry and fishing. 75% of BBTD's portfolio is concentrated in the banking sector, the Vice President said.
The total portfolio on Azerbaijan comprises $82mln of $1.216bln of all loans allocated by the BBTD.