Azerbaijan, Baku, June 21 / Trend E. Aliyev /
The Black Sea Trade and Development Bank (BSTDB), which is an international financial organisation has signed agreements with three Azerbaijani financial institutions.
The documents were signed following the Azerbaijan business forum held in Baku on Friday within the 15th annual meeting of the BSTDB board of governors.
Unibank signed the first loan agreement worth $5 million for five years.
According to BSBTD chairman Andrei Kondakov, this agreement is another contribution made by BSBTD in the development of the Azerbaijani economy.
Chairman of the board of Unibank Faig Huseynov stressed that the loan agreement is the fourth and another agreement is expected to be signed next year. BSBTD and Unibank have been cooperating for eight years.
Moreover, an agreement worth $10 million was signed with FINCA Azerbaijan credit institution. This organisation is the leader of the microfinance market in Azerbaijan which is of particular importance for the development of rural regions, Kondakov said.
FINCA Azerbaijan head Manish Sane thanked BSBTD for itse support and said that the allocated loan will be directed to expand lending in the regions.
The third agreement worth $4 million was signed with BSBTD and TBC credit.
Kondakov added that BSBTD is actively cooperating with Georgian TBC Bank and expressed satisfaction that the cooperation has been expanded in Azerbaijan. The allocated loan will be used for lending to small and medium-sized businesses.