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Publish Date : 20-Jun-2013

The sum of $34 million to the four financial institutions in Azerbaijan will be granted as loan by Black Sea Trade and Development Bank (BSTDB).

Three banks and a non-banking institution will receive these Loan resources. unds are intended to support the development of small and medium-sized enterprises," the bank informed. The loan agreements will be signed on June 23 at the XV annual meeting of the Black Sea Trade and Development Bank, which will be held in Baku on June 20-23.

At present, the bank's activities are mostly concentrated in the financial sector. BSTDB has opened credit lines to ten Azerbaijani banks - International Bank of Azerbaijan, Access Bank, AGBank, Unibank, Texnika Bank, Demir Bank, Kapital Bank, Azer-Turk Bank, Bank Standard and Bank Respublika.

At present, Greece, Russia and Turkey remain the bank's largest shareholders with stakes of 16.5 percent each. Romania owns 14 percent, Bulgaria and Ukraine - 13.5 percent each, Azerbaijan - five percent, Albania - two percent, Armenia and Moldova - one percent each, and Georgia - 0.5 percent.

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