BSTDB ready to issue bonds in Azerbaijani manats (exclusive)
Baku, Azerbaijan, Sept. 29
By Azad Hasanli – Trend:
The Black Sea Trade and Development Bank (BSTDB) is ready to issue bonds in Azerbaijani manats, BSTDB President Ihsan Delikanli said in an interview with Trend.
“We have initiated the discussion with the relevant Azerbaijani authorities earlier this year and are ready to continue this dialog,” he noted. “As a matter of business strategy, we are developing and gradually introducing bonds and financial products denominated in the national currencies of our member states.”
The BSTDB has started this program from Georgia in 2015 and already issued bonds in national currency for Georgia (worth 60 million laris in 2015), and most recently provided a national currency loan worth one billion rubles in Russia in June 2017.
Other international financial organizations are also interested in issuing bonds in manats. For example, the European Bank for Reconstruction and Developlment (EBRD) has repeatedly announced such plans.
EBRD President Suma Chakrabarti said earlier that all the procedures necessary for issuing bonds are ready, but the bank expects the relevant situation on the market.
The BSTDB was established by Azerbaijan, Albania, Bulgaria, Georgia, Greece, Moldova, Armenia, Romania, Turkey, Ukraine and Russia. The bank’s authorized capital is 3.45 billion euros.