Azerbaijan to bring its share in Black Sea Trade and Development Bank up to 5%

Azerbaijan's deputy minister of economic development Mikail Jabbarov said that the decision to raise Azerbaijan's share in the capital of the bank from 3 up to 5% has already been passed by the country's Cabinet of Ministers. The final agreements coordinations on the said issue are to be attained at the annual session of the Black Sea Trade and Development Bank.

It should be noted that today Greece, Turkey and Russia hold 16.5% share in the Bank, Romania, Ukraine and Bulgaria 13%, Azerbaijan and Albania 2%, Georgia, Moldova and Armenia 1%.

"After the rise in Azerbaijan's share, the country will have a more institutional representation in the bank and the local entrepreneurs will have wider potential to use financial services of the Black Sea Trade and Development Bank", said Jabbarov.

/Day.Az/