BAKU, Azerbaijan, June 23. The Black Sea Trade and Development Bank (BSTDB) will sign two new agreements with Azerbaijani banks, Dmitry Pankin, BSTDB President said in an exclusive interview with Trend.
“Under these agreements, our partners will get loans for supporting trade financing (exporters and importers) and small and medium-sized enterprises in the country. We are also ready to cooperate with local financial institutions as part of the joint financing of corporate clients with local currency as well. The possibility of financing in manats will be considered in all future operations taking into account the client’s request, specifics and risks of the project financed,” said Pankin.
He went on to add that the main priorities of the BSTDB in Azerbaijan are reflected in the strategy for 2019-2022 and are directly related to the Bank’s mandate on supporting the economic development of participating states and facilitating regional trade among them.
“We have intensified our contacts with Azerbaijan’s financial institutions and are preparing two new agreements with Azerbaijani banks. We are considering new projects for providing financial resources to financial institutions within our product line, which includes loans and guarantees for supporting trade financing, leasing, providing loans for micro, small and medium-sized enterprises, as well as for corporate and individual clients for promoting green economy. We continue to attach great importance to our cooperation with financial mediators for financing SMEs, with which we can’t work directly due to some objective reasons, as well as the principle of non-competition with local financial institutions,” said Pankin.
BSTDB President pointed out that one of the Bank’s priorities is to support the energy sector and create a modern infrastructure using the cutting-edge technologies and meeting environmental requirements in order to reduce the adverse affect on the environment.
“Direct support to enterprises (medium-sized and large companies) in different spheres of economy, including agriculture, food production, manufacturing of equipment and instruments, chemical industry, transport, logistics and tourism is also our priority. We pay special attention to environmentally friendly projects, which increase the export potential and apply sustainable economic and technical standards and practices. We are in contact with state and private institutions in order to fulfill these priorities, but for now, these initiatives are at an early stage of development,” said Pankin.
Follow the author on Twitter: @Lyaman_Zeyn