BSTDB signs credit agreement with Azerbaijan’s TuranBank
Baku, December 13 (AZERTAC). The Black Sea Trade and Development Bank (BSTDB) as a result of negotiations with Azerbaijan’s TuranBank allocated a trade financing facility of 4 million USD.
Funding will be used to increase trade turnover among member countries of the Black Sea Economic Cooperation.
Turan Bank has been cooperating with international financial institutions since 1995. At present the Bank cooperates within various financing projects with International Finance Corporation (IFC, World Bank Group), Islamic Corporation for the Development (ICD), International Islamic Trade Financing Corporation (ITFC, IDB Group), International Finance Corporation (IFC), International Fund for Agricultural Development (IFAD), International Development Association (IDA, World Bank Group), WBC (USA), OPIC (USA), BCP (Switzerland), Bank Asya (Turkey), ZiraatBank (Turkey), ShekerBank (Turkey), MicroVest (USA), Bank im Bistum Essen (Germany) and others.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution that supports economic development and regional cooperation by providing trade and project financing, guarantees, and equity for development projects supporting both public and private enterprises in its member countries. The organization has an authorized capital of $1.325 billion. The BSTDB is also related to the Organization of the Black Sea Economic Cooperation, a regional economic organization.
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