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BSTDB plans to extend second local currency SME credit line to Turanbank

Finance Materials 1 June 2021 09:19 (UTC +04:00)

BAKU, Azerbaijan, June 1

By Leman Zeynalova – Trend:

The Black Sea Trade and Development Bank (BSTDB) is planning to extend a second local currency SME credit line to Azerbaijan’s Turanbank this year, the Bank told Trend.

"The main factor is the demand for local currency financing from our Azerbaijani clients. As I said, we are planning to extend a second local currency SME credit line to Turanbank this year. To meet this demand, we are assessing all available options and will choose the most efficient one. We did not take the decision to issue the bond," said the BSTDB.

The Black Sea Trade and Development Bank, an international financial institution with headquarters in Thessaloniki, Greece, was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB started operations in June 1999 and has authorized capital of 3.45 billion euros. 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.

BSTDB became the first international financial institution to issue bonds in Azerbaijani manats in 2019.

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