By end of 2006, BSBTD to confirm new strategy for 2007-2010s

Business Materials 12 June 2006 17:03 (UTC +04:00)

The Black Sea Bank for Trade and Development (BSBTD) announced about the working-out of the strategy of bank in new economic conditions, Trend reports with reference to Samir Sharifov, Azeri finance minister and director from Azerbaijan in BSBTD.

The management of the bank was charged such a task and the first variant of the strategy is expected to be submitted in July and specified variant in September, and the Board of Managers in December 2006 will look through the strategy and business of bank for 2007-2010s, told Sharifov.

According to Sharifov, it will be a common strategy of BSBTD and its base will be corrected. Azeri economy from point of view of credit provision is quite solvency and therefore, it is a normal process to increase the number of banks receiving credit lines from BSBTD, told Sharifov


Besides, BSBTD is ready to increase the capitals for the micro-finance bank of Azerbaijan. This project was successful, but there will be new projects not only in this sector, said Sharifov.

According to Sofya Kasidova, vise-president of BSBTD on financial issues, competitiveness increases and economic growth is observed in the Black Sea region.

Today $600m have been invested into the countries of the Black Sea basin, at the expense of finance of BSBTD. In the future phase of cooperation, we are going to pay the main attention to the development industry in countries, told Kasidova.