BAKU, Azerbaijan, June 23. The Black Sea Trade and Development Bank (BSTDB) is very interested in providing financing in local currency in Azerbaijan, Dmitry Pankin, BSTDB President said in an exclusive interview with Trend.
“We understand that financing in local currency reduces risks for clients and for the entire financial sector. The BSTDB already has experience in this regard. We have issued bonds in manats using the infrastructure of the national currency market and worked with local financial institutions on mobilizing the local currency. We are open and considering alternative options for getting access to the local currency, as there is a great demand both from the financial mediators and corporate borrowers,” said the BSTDB president.
The Black Sea Trade and Development Bank (BSTDB), an international financial institution with headquarters in Thessaloniki, Greece, was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries.
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