BSTDB increases support to Turkish SMEs through leasing financing

BSTDB increases support to Turkish SMEs through leasing financing

BAKU, Azerbaijan, September 17

Trend:

The Black Sea Trade and Development Bank (BSTDB) is providing a 5-year USD 35 million SME Leasing Facility to AKLease, a subsidiary of Akbank. The financing will enable AKLease to increase availability of funds for small and medium-sized enterprises (SMEs) in Turkey, so they can invest in machinery, equipment and business vehicles amid pandemic.

This is the second BSTDB loan to AKLease. The first BSTDB’s EUR 20 million SME facility provided in 2017 served over 200 small and medium sized enterprises.

“Leasing is a powerful and flexible alternative to traditional finance, and we are happy to come together with AKLease to facilitate an uninterrupted access to funding for small enterprises negatively affected by the pandemic crisis and help them continue their businesses and sustain jobs. AKLease is our strong and reliable partner in Turkey. Our continued partnership is generating an important development impact through increased export capacity, tax revenues and improved competitiveness of the SME sector in the country”, said Dmitry Pankin, BSTDB President.

AKLease General Manager Çetin Düz said “As AKLease, we prioritize producing the right financial solutions that meet the needs of our customers. Our goal is to contribute to the development of investments and the economy by presenting the advantages of leasing with the right financial modeling to the investor.”

AKLease, a subsidiary of Akbank, was founded in 1998 with the purpose of carrying our financial leasing activities. AKLease, with a 9.6% market share, is one of the top 3 leasing companies in Turkey, in terms of asset size within its peer group. The company operates with 10 branches. AKLease serves to its shareholders, employees, customers within the framework of principles regarding honesty, reliability, accountability, transparency, compliance with laws, looking out for social utility and respect towards environment.

AKLease launces “Ecolease”, a new tailor-made product -the first and only sustainability linked product in Turkish Leasing Market, for renewable energy, energy & resource efficiency projects for companies that would like to invest not just in their business but also on their future.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.

Subscribe to Trend in Google News! Subscribe
Truck collides with passenger bus in Baku (PHOTO)
Truck collides with passenger bus in Baku (PHOTO)
Nizami Ganjavi International Center hosts side event as part of UN General Assembly's 76th session  (VIDEO)
Nizami Ganjavi International Center hosts side event as part of UN General Assembly's 76th session (VIDEO)
Indian gov't says 75 pct of stolen heritage returned during last seven years
Indian gov't says 75 pct of stolen heritage returned during last seven years
Loading Bars
Latest
Helicopter crash kills three in Germany
As soon as possible, we will return to their native lands IDPs who lived in suffering for 30 years - Azerbaijani president
Heydar Aliyev did not allow holding of referendum on preservation of Soviet Union in Nakhchivan - President Aliyev
Celebrating October 18 solemnly or thanking someone for it is absolutely inappropriate, says Azerbaijani president
UK records more than 40,000 COVID cases for fifth day in a row
Cargo movements in Iran’s Qeshm port up
Amendments related to national holidays completely correspond to historical realities - Azerbaijani president
First VP of Azerbaijan makes Instagram post after meeting with heroes of Second Karabakh war (PHOTO)
Georgia faces fifth Covid-19 wave, observing recommendations much needed, NCDC Head says
UNHCR opens alternative route of aid to Afghanistan via Uzbekistan
Azerbaijan allocates funds for construction of Fuzuli Memorial Complex
Master plans of Zangilan, Gubadly, Kalbajar and Lachin being developed - Azerbaijani president
Azerbaijani economy grows by about 5%, non-oil economy by 20% over 9 months - President Aliyev
Large settlement will be created based on "smart village" concept in village of Dovletyarly - Azerbaijani president
We significantly brought closer day of IDPs return to their homelands - President Aliyev
Projects under implementation in Fuzuli show our determination and potential - Azerbaijani president
We will restore Fuzuli city, settlements of Fuzuli district - President Aliyev
Every person who visits Fuzuli becomes witness of Armenian vandalism and no one can deny this, says Azerbaijani president
This glorious victory will forever remain in history of Azerbaijan - President Ilham Aliyev
After liberation of Fuzuli, cases of desertion in Armenian army became even more widespread - President Aliyev
After Fuzuli was liberated it created more opportunities to move towards Shusha - President Aliyev
President Ilham Aliyev and First Lady Mehriban Aliyeva view conditions created at Fuzuli International Airport
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,896 more COVID-19 cases, 764 recoveries
Azerbaijani president, first lady meet with members of Fuzuli district's general public
Azerbaijani president, first lady view conditions created in Fuzuli Central City Park, plant trees there
President Aliyev lays foundation for Digital Substation Management Center in Fuzuli
President Ilham Aliyev lays foundation stone for Fuzuli Memorial Complex, city of Fuzuli
Liberation of Fuzuli during war was very important - President Ilham Aliyev
October 17 will forever have special place in history - President Ilham Aliyev
President Aliyev lays foundation stones for Fuzuli-Aghdam highway and new “smart village” in Fuzuli (PHOTO)
President Ilham Aliyev and First Lady Mehriban Aliyeva visit Fuzuli district (PHOTO)
Ukrainian MPs visit Ganja where cilivians died as result of missile attacks by Armenia (PHOTOS)
Iran reveals COVID-19 data for October 17
BSEC SG to visit Georgia today
Over 600 COVID-19 patients in Kazakhstan in critical condition
Energy Community highlights leading energy projects implemented in Georgia
First concert of Azerbaijan's trio under leadership Isfar Sarabsky takes place as part of European tour (PHOTO/VIDEO)
Buy/sell operations at Iran Mercantile Exchange soar
Graduation ceremony of Azerbaijani servicemen participating in courses held in Turkey
Heavy rains lash India's Kerala, red alert sounded in 5 districts
Share of households with internet access increases in Georgia
Seventeen U.S. missionaries and family kidnapped in Haiti
Iranian private investments in Tajikistan expected to grow
1,900 new COVID-19 cases reported in Kazakhstan
IRICA unveils data on exports of Iran to Belarus
Azerbaijan national team takes second place at Grand Slam judo tournament
8 killed, over 20 injured in traffic accident in Peru
1 deputy killed, 2 injured in "ambush shooting" in U.S. Texas
Israel's active COVID-19 cases below 20,000
At least 6 dead, 1 missing after ship sinks in Brazil
Azerbaijani Foreign Ministry shares publication in connection with anniversary of Armenia's missile attack on Ganja
Information about firing of Azerbaijani army in direction of Arazdeyen does not reflect truth - Ministry of Defense
Sudan protest calls for military coup as political crisis deepens
Chronicles of Victory: President Ilham Aliyev addresses the nation on October 17, 2020 (PHOTO/VIDEO)
Chronicles of Victory: October 17, 2020
District Election Commissions to sum up protocols of municipal polls in Georgia
A working meeting of the delegations of Uzbekistan and Afghanistan takes place
Russian authorities say 18 dead in suspected alcohol poisoning in Yekaterinburg
UN chief welcomes unilateral cease-fire in CAR
Iran’s Bahar Azadi gold coin price continues to rise
Work on increasing wages, pensions and benefits begins - Ministry of Finance of Azerbaijan
Official talks reasons for increase in gas prices in Azerbaijan
Post-conflict reconstruction projects launched by President Ilham Aliyev is unprecedented - Aide to President (VIDEO)
Azerbaijani IDEA signs agreement with All-Russian Society for Nature Conservation (PHOTO)
Saudi Arabia's PIF launches offshore platform tourism project
NATO Special Representative for Caucasus to visit Azerbaijan
Iran's Energy Exchange announces products to be on sale on October 17
Iran reaches grow in exports to Kyrgyzstan
World gas prices grow by 20-30 times compared to last year - SOCAR
Latvia to gift Georgia 83,070 doses of Pfizer jab
Earthquake hits southern Iran
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,681 more COVID-19 cases, 675 recoveries
South Caucasus countries need to coordinate to open communications - Pakistani diplomat
Azerbaijani President Ilham Aliyev signs decree on raising social payments
Iran reveals COVID-19 data for October 16
Uzbekistan to privatize public park in Tashkent
Muslims all together sympathetic with Azerbaijan - Palestinian ambassador
Iran's exports to Kazakhstan up
SOCAR Georgia Gas opens tender on pickup trucks through operating lease
Turkish president and German chancellor holding talks in Istanbul
Novak does not rule out recurrence of energy crisis in Europe, urges its prevention
Azerbaijani official talks victims of Armenian attacks on Tartar during Second Karabakh War
Centuries needed to revive nature of Azerbaijan's Karabakh - minister
Azerbaijan raises electricity and gas prices
Restoration work in Azerbaijan’s liberated territories show positive trend – Kyrgyz ambassador
Over past 25-30 years, no country independently conducted such large-scale reconstruction in post-conflict period - aide to Azerbaijani president
Armenia must take serious and positive steps to open communications - Azerbaijani president's assistant (Exclusive)
Azerbaijan looks to sign document on demining liberated territories with France
Azerbaijan's Air Defense Units carrying out combat firing exercises (VIDEO)
Azerbaijan's Karabakh to be famous for its "smart cities" and agricultural products - Turkish ambassador
Iran boosts exports to Russia
Russia registers over 1,000 coronavirus deaths in 24 hours first since pandemic starts
Kazakh energy minister names reasons for shutdown of Pavlodar refinery
Iran sees increase in trade turnover with EAEU member states
Representatives of diplomatic corps view restoration work in liberated territories of Azerbaijan (PHOTO)
First plane with UN humanitarian aid for Afghanistan arrives in Uzbekistan
Iran records increase in load/unload operations in Amirabad port
Georgia and US to discuss co-op in Black Sea
All news