Black Sea Trade and Development Bank talks funding for projects in Azerbaijan (Exclusive)
Baku, Azerbaijan, Dec. 20
By Sara Israfilbayova – Trend:
The Black Sea Trade and Development Bank (BSTDB) may allocate about 80 million euros for projects in Azerbaijan in 2019, the Bank's President Dmitry Pankin said in an interview with Trend.
He said that the relevant projects are already being prepared.
"The Bank has a rather long history of relations with local companies and banks, and negotiations are also underway with several banks on new financing," he noted.
He added that mainly this will be the financing of small and medium-sized enterprises (SMEs).
BSTDB earlier told Trend that it is planning to allocate about 48 million euros for projects in Azerbaijan in 2018.
In 2017, 93.12 million euros were allocated to Azerbaijan, and contracts worth 91.1 million euros were signed. In total, the Bank has so far allocated loans of 330 million euros to projects in Azerbaijan.
BSTDB was founded by Azerbaijan, Albania, Bulgaria, Georgia, Greece, Moldova, Armenia, Romania, Turkey, Ukraine and Russia. The authorized capital of the Bank is 3.45 billion euros.
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