Azerbaijan, Baku, 7 November / Trend / Black Sea Trade & Development Bank (BSTDB) and the Development Bank of Austria (OeEB) have created a Special Technical Interaction Fund aimed at facilitating technical cooperation among the BSTDB countries.
The OeEB will contribute an initial amount of €500,000 to the fund provided by the Government of Austria as official development assistance.
BSTDB will manage the fund and will utilize it to finance a range of activities including consultancy charges to private entities, business plans, financial analyses and accounts, business researches.
The Special Technical Interaction Fund is aimed to simplify the access of Black Sea private sector's enterprises to financing.
BSTDB countries will enjoy the services of the fund - Albania, Armenia, Azerbaijan, Georgia, Moldova, Turkey and Ukraine.