ICD, BSTDB to co-finance projects in Azerbaijan
Baku, Azerbaijan, May 19
By Azad Hasanli - Trend:
The Islamic Corporation for the Development of the Private Sector (ICD) and the Black Sea Trade and Development Bank (BSTDB) will facilitate trade and investments in Azerbaijan, Albania and Turkey through co-financing and co-investment projects, read a message posted on the BSTDB website May 19.
This is envisaged in the memorandum of understanding (MOU) signed between the ICD and the BSTDB on the sidelines of the Islamic Development Bank (IDB) Group 41st Annual Meeting in Jakarta.
The document was signed by Ihsan Ugur Delikanli, president of BSTDB, and Khaled Al Aboodi, the chief executive officer and general manager of ICD.
In addition, small and medium-sized enterprises in the region will also benefit from efforts that will be focused on easing their financial burden, including financing businesses both directly and through financial institutions.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Azerbaijan, Bulgaria, Georgia, Armenia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.