Azerbaijan attaches great importance to expanding co-op with BSTDB

Azerbaijan attaches great importance to developing and expanding cooperation with the Black Sea Trade and Development Bank (BSTDB), the country’s finance minister said on Friday.

Samir Sharifov made the statement as he addressed a business forum on “BSTDB's role in supporting a diversified and innovative the Azerbaijani economy in a changing world” in Baku, a correspondent of News.Az reports.

The minister noted that measures are being taken under the leadership of President Ilham Aliyev to diversify the Azerbaijani economy, provide support to entrepreneurs, and provide them with preferential loans

He said that the main activity of the BSTDB is to provide credit and guarantee support for the development of trade and the private sector.

“The Bank also participates in the development of local financial markets in Azerbaijan. On August 1, 2019, the Baku Stock Exchange held an auction on corporate bonds of the BSTDB, and the funds raised will be used to finance the private sector. Thus, the BSTDB became the first international financial institution in Azerbaijan to place bonds in the national currency,” Sharifov added.


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