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Azerbaijan : BSTDB inks $15 mln loan with AccessBank in AZERBAIJAN

August 1, 2014

A $15 million loan has been signed by the Black Sea Trade and Development Bank (BSTDB) with AccessBank, towards the development of small and medium-sized enterprises (SME) in Azerbaijan.

BSTDB President Andrey Kondakov commented Strengthened cooperation with AccessBank is contributing to the implementation of the BSTDB strategy in Azerbaijan to promote growth and diversification of the economy through investment and support to the small business development in the non-oil sector.

The loan is aiming at funding projects for modernization, capacity expansion and diversification of products, along with services of industrial, agricultural and manufacturing SMEs in Azerbaijan and their working capital requirements.

AccessBank CEO Michael Hoffmann stated We strongly welcome the support of our long-term partner BSTDB. The funds will be on-lend to the Bank s SME clients and contribute in particular to the further development of the regional economy in Azerbaijan.

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Source: TendersInfo (India)

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