BSTDB intends to distribute its second bonded loan
Azerbaijan, Baku, April 13 / Trend N.Ismayilova /
The Black Sea Trade and Development Bank (BSTDB) plans to distribute the second bonded loan by late 2011, BSTDB President Andrei Kondakov told journalists at a meeting with Azerbaijani business circles today in Baku.
The first bonded loan was financed in 2009.
"The volume of loans is under discussion. In the chance of a successful development of events, operations will be conducted during the second half of 2011. We want to reach a volume of $500 million," Kondakov said.
He said the bank's subscribed assets were doubled two years, and authorized assets tripled.
"2010 was the first year, when the countries began to make regular payments for the second replenishment of the funds," Kondakov said.
He said the share of credit resources attracted from the market is about 50 percent of the loan portfolio of the BSTDB.
"We believe this is a good indicator, since it cannot be based solely on shareholder money," Kondakov said.