BSTDB allocates over 140m euros to Azerbaijan

By Azernews

By Vugar Khalilov

The Black Sea Trade and Development Bank (BSTDB) has approved eight transactions for Azerbaijan worth over 140 million euros by July 2021, Trend reported on August 27.

The bank made the relevant decision at the event called “The Black Sea region in the post-pandemic period: a strategic dialogue with the BSTDB leadership,” the report reads.

Some 131 million euros have already been allocated for transactions, of which some 84 million euros are to be paid.

According to BSTDB, the worth of 6 unredeemed transactions accounted for over 52 million euros.

In total, the BSTDB Board approved 164 transactions by July 2021 that amounted to over 3.6 billion euros.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion.