TuranBank has attracted a large loan from an esteemed financial institution

16:49 - 12.08.2021


August 12, Fineko/abc.az. TuranBank and the Black Sea Trade and Development Bank (BSTDB) signed a loan agreement worth 10 million manats to expand the financing of the small and medium enterprises (SMEs). By targeting the funding of small and medium-sized enterprises, the raised funds will further expand entrepreneurs' access to financial resources in local currency.

It is worth mentioning that TuranBank is successfully improving cooperation in attracting international credit lines to finance SMEs. Our Bank vigorously supports the sustainable development of the non-oil sector with prominent financial institutions such as the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the EMF Microfinance Fund, the ECO Trade and Development Bank (ECO TDB) and others through the joint cooperation on Small and Medium business projects.

The Black Sea Trade and Development Bank (BSTDB) was established in 1999 to support the regional development and cooperation of the Black Sea region. The BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees to finance public and private sector projects and trade in member countries. The authorized capital of the Bank is 3.45 billion euros. The Bank participates in the financing and capital of projects in member countries following the principles of the development of regional cooperation.

It should be noted that TuranBank has been successfully developing cooperation with the Black Sea Trade and Development Bank since 2011. The Bank continues to support the development of Small and Medium Enterprises through the attracted funds. It is worth noting that this is the second loan agreement signed between TuranBank and the Black Sea Trade and Development Bank (BSTDB) to finance micro, small and medium enterprises.

 

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