ECONOMY
BSTDB, Azerbaijan`s Access Bank sign loan agreement
Baku, June 23 (AZERTAC). The Black Sea Trade and Development Bank (BSTDB) has allocated a loan worth 15 million USD to Azerbaijani Access Bank. The relevant document was signed by BSTDB head Andrei Kondakov and Access Bank General Manager Michael Hoffmann.
The funds granted under the three year-agreement will be spent for the development of small and medium-sized business.
Access Bank General Manager Michael Hoffmann spoke about the bank`s activities in Azerbaijan`s regions.
He said 40 percent of the total loan portfolio of the bank —$ 260 million - was directed to the development of small and medium-sized businesses, and improvement of the non-oil industry.
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