Black Sea Trade and Development Bank explores enhanced cooperation with KfW
Azerbaijan, Baku, March 9 / Trend A. Akhundov /
The Black Sea Trade and Development Bank (BSTDB) considers the ways of developing the cooperation with the German Development Bank KfW, BSTDB said on Friday.
Andrey Kondakov, BSTDB President and Members of the Management had a working meeting with Dr. Norbert Kloppenburg, Member of the Executive Board of KfW Banking Group, and Mr. Rolland Siller, Director Southeast Europe and Turkey, KfW at the BSTDB headquarters in Thessaloniki on March 1, 2012.
The parties exchanged views on the latest political and economic trends in the Black Sea region and explored options to enhance their cooperation in the Region.
BSTDB and KFW Group have co-financed projects in Albania, Azerbaijan, Bulgaria, Georgia, Moldova, Romania and Turkey.
BSTDB was established in 1996. It has begun operating since June 1, 1999. The share of Azerbaijan's participation in the capital of the bank hits 5 percent. About 11 countries are BSTDB members.
The bank supports the principles of developing the regional cooperation. It participates in financing the projects in member-countries and in equity. The bank has financed 14 projects worth 100 million euros in Azerbaijan over 11 years.