Black Sea Bank allocates loans for private sector to Azerbaijan

The Black Sea Trade and Development Bank (BSTDB) has allocated $546 million of loans to the private sector in Azerbaijan for the entire period of its activity.

"The bank also participated in the development of local financial markets," Report quotes Azerbaijani Finance Minister Samir Sharifov as saying at the Azerbaijan-BSTDB business forum in Baku.

"In 2019, an auction on BSTDB corporate bonds was held at the Baku Stock Exchange CJSC, and the funds raised were used to finance the private sector in Azerbaijan. Thus, the bank became the first international financial institution in Azerbaijan to place bonds in the national currency," Sharifov added.