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BSTDB interested in issuing manat loans to Azerbaijan

Wednesday, June 14
The Black Sea Trade and Development Bank (BSTDB) is interested in funding projects in Azerbaijan in manats, BSTDB President Ihsan Ugur Delikanli said June 13.

He was addressing an event dedicated to presentation of BSTDB opportunities for the business and banking community of Azerbaijan.

Such funding can be implemented through the issuance of manat bonds by the bank, according to Delikanli.

“We are already carrying out similar work in three countries. We are currently working on this issue jointly with Azerbaijan’s Financial Market Supervisory Authority. The bond issuance volume will depend on the demand bonds will be in. I think we will proceed straight to the issuance right after completing the preparatory work,” he said.

He also noted that BSTDB offers medium- and short-term project funding, corporate loans, participation in companies’ capital and various guarantees.

“Our main proposals are aimed at supporting the development of non-oil sector of Azerbaijan. In addition, we intend to support small and medium enterprises in the country through cooperation with local banks. It is a priority for us,” Delikanli said.

BSTDB was founded by Azerbaijan, Albania, Bulgaria, Georgia, Greece, Moldova, Armenia, Romania, Turkey, Ukraine and Russia. (