BSTDB, Development Bank of Austria to finance SMEs in Azerbaijan
BAKU, Azerbaijan, May 25
The Black Sea Trade and Development Bank (BSTDB) has signed a 30 million euro facility agreement with the Development Bank of Austria (OeEB) aimed to finance private sector projects and investment programs in the industry, agriculture and service sectors, as well as to provide working capital and export financing in Albania, Armenia, Azerbaijan, Georgia, Moldova and Ukraine, Trend reports referring to BSTDB on May 25.
The main beneficiaries of the mentioned aid will be small and medium-sized enterprises (SMEs), which is the category most affected by the impact of the Covid-19 pandemic and as such prioritized by BSTDB.
The new agreement will provide for additional resources to finance the BSTDB’s efforts to contribute to the measures being taken by the governments of member countries to help the post-COVID-19 pandemic economic recovery.