BSTDB eyes to develop new strategy for Azerbaijan (Exclusive)

iqtisadiyyat / manset


BSTDB eyes to develop new strategy for Azerbaijan (Exclusive)
The Black Sea Trade and Development Bank (BSTDB) plans to develop a new strategy on Azerbaijan, a source in the bank’s head office told Trend.

The creation of the strategy will be launched after the completion of the overall strategy of the BSTDB, according to the source.

"A new BSTDB president, Dmitry Pankin from Russia and a new vice president for banking issues, Hasan Demirhan from Turkey, began work on July 16. In September we expect the arrival of a new vice president for financial issues from Ukraine. We are currently developing a new BSTDB strategy for 2019-2022, which will be coordinated with the governments of all member countries. Based on this new overall strategy, the bank will adopt strategies on individual states, including Azerbaijan."

The source added that in this regard, the new management of the bank plans to arrive in Baku by the end of this year.

BSTDB is planning to allocate about 48 million euros for projects in Azerbaijan in 2018.

In 2017, 93.12 million euros were allocated to Azerbaijan, and contracts worth 91.1 million euros were signed. In total, the bank has so far allocated loans of 330 million euros to projects in Azerbaijan.

BSTDB was founded by Azerbaijan, Albania, Bulgaria, Georgia, Greece, Moldova, Armenia, Romania, Turkey, Ukraine and Russia. The authorized capital of the bank is 3.45 billion euros.