BAKU, Azerbaijan, Jan.12. The Black Sea Trade and Development Bank (BSTDB) is in discussions with a number of other financial institutions in Azerbaijan and hopefully will be able to expand the network of its partner banks in the future, BSTDB President Serhat Köksal said in an exclusive interview with Trend.
“Financial sector remains one of the priorities for the BSTDB in Azerbaijan as one of the important channels to reach micro, small and medium sized businesses as well as to support exporters and importers through trade finance facilities,” he said.
Serhat Köksal recalled the $5 million loan agreement signed with TuranBank in 2022 to expand financing of international trade operations.
“The $5 million provided to TuranBank will be used for the latter fostering the international trade in particular within the Black Sea Region. In 2022 the BSTDB has also signed an agreement with Rabitabank for USD 10 million. These funds will be on-lent to SMEs to finance their investment programs and working capital needs, help their development in domestic and international markets and strengthen their competitiveness and export capacity,” he added.
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