Official: BSTDB invested nearly €500 million in Azerbaijan since 1994

The Black Sea Trade and Development Bank (BSTDB) has financed projects worth nearly €500 million in Azerbaijan since the country joined the institution in 1994, Azerbaijani Finance Minister Sahil Babayev said.

Speaking to journalists on the sidelines of the 28th Annual Meeting of the BSTDB Board of Governors in Baku, Babayev highlighted the long-standing cooperation between Azerbaijan and the regional development bank, Caliber.Az reports per local media. 

"Azerbaijan has a long history of cooperation with the Black Sea Trade and Development Bank. Our country has been cooperating with the bank since 1994. During this period, various projects with a total value of approximately 500 million euros have been financed by the bank in Azerbaijan. Among those projects, financial support allocated to small and medium-sized businesses through local banks is considered one of the most important areas."

Babayev said the BSTDB intends to expand its support for small and medium-sized enterprises (SMEs) and deepen cooperation with Azerbaijan in the years ahead.

"Further expansion of our cooperation with the Bank is envisaged in the coming period. Today's discussions focused on the expansion of transnational and regional projects in Azerbaijan, as well as in the South Caucasus and Black Sea region,” he said.

He added that the meeting discussed broader support for transport corridors and energy projects, as well as increasing financial support for the private sector, especially small and medium-sized businesses, in Azerbaijan and other member countries.

The minister also praised the bank's financial performance over the past year, expressing confidence in its future operations.

"At the same time, we highly appreciate the results of 2025. Last year, financial measures and investment projects implemented by both the regional countries and the Bank yielded successful results. The Bank's financial position has further strengthened, and the financial ratings of the regional countries have either improved or remained stable,” he said.

According to Babayev,  the sides noted the successful results of 2025 and are discussing prospective projects for the coming period.

By Sabina Mammadli