BSTDB reveals portfolio of signed operations in Azerbaijan (Exclusive)

Finance Materials 27 October 2021 13:01 (UTC +04:00)
BSTDB reveals portfolio of signed operations in Azerbaijan (Exclusive)

BAKU, Azerbaijan, Oct.27

By Leman Zeynalova – Trend:

The Black Sea Trade and Development Bank’s (BSTDB) portfolio of signed operations in Azerbaijan now stands at EUR 130 million for seven operations, Dmitry Pankin, President of the Black Sea Trade and Development Bank (BSTDB) said in an exclusive interview with Trend.

"Due to the pandemic, there has been a significant decline in new investments and the capital expenditures of the companies all over our region. This was reflected in the number of companies, which applied for financing to BSTDB, with Azerbaijan being no exception to the above trend. Therefore, the Bank’s portfolio growth in Azerbaijan was not up to our plans. In 2021, the Bank signed only one new operation for AZN 10 million and disbursed EUR 48,2 million to Azerbaijani clients," he said.

Pankin pointed out that BSTDB strives to support government’s economic priorities and adequately respond to market demand.

"We give special attention to operations that promote regional cooperation, increased and diversified export of goods and services, and new employment creation. The Bank seeks to provide financing for efficiency enhancements of infrastructure, renewable energy, manufacturing, agribusiness. However, it depends on the demand from Azerbaijani entities. Any bankable project that contributes to economic development, increases export potential and adds employment is a priority for us in Azerbaijan," he added.


Follow the author on Twitter: @Lyaman_Zeyn