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BSTDB plans to expand co-op with Azeri banking sector

Business Materials 20 February 2006 14:24 (UTC +04:00)

The Black Sea Trade and Development Bank (BSTDB) proposes new instruments for cooperation in mortgage, leasing and consumer crediting to the Azerbaijani banking sector. BSTDB established a new department on work with banking organizations and the head of the department paid a visit to Baku, Mikayil Jabbarov, the Deputy Minister of Economic Development, told journalists on 20 February, Trend reports. He had meetings with the representatives of the Azerbaijani banking sector.

We always support the proposals by BSTDB on attraction of additional credit resources, including, banking sector. The government encourages new financial instruments, particularly, for the banking sector, Jabbarov stressed.

According to Jabbarov, the government raises the issue of increase of credit portfolio for Azerbaijan as work proceeds before BSTDB. Nevertheless, it depends on two factors - the quality of the projects presented to the bank and the banks approach to consideration of the projects. The annual meeting of the board of governors of BSRDB will be held in Baku in 2006. We hope that some projects will form until the meeting and the bank will make a decision on financing. Nevertheless, the final decision depends on BRSDB, he noted.

As to opening of representation of the bank in Baku, the issue is not on the agenda. Except the central office in Salonniki, BSTDB does not have offices in the member-countries even irrespective of the cooperation portfolio, as the bank is young organization.

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