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“Standard and Poor’s” agency kept the international loan rating of Azerbaijan as stable in a special assessment***The Milli Majlis adopts a law on the execution of the state budget for 2016***Ministry of Finance recommends referring to official data in statements about IBA***

Cooperation expands between Azerbaijan and BSTDB

Cooperation expands between Azerbaijan and BSTDB

12.06.2017

Minister of finance of the Republic of Azerbaijan Mr. Samir Sharifov received the delegation of the Black Sea Trade and Development Bank (BSTDB) headed by President of the bank Mr. Ihsan Ugur Delikanli on June 12.
During the meeting, the sides exchanged views on the current status and perspectives of cooperation between the Republic of Azerbaijan and BSTDB, and emphasized the importance of support of the Bank that prefers direct cooperation with the real sector to various projects, including financing of trade activities to promote this field.
Underlining the important tasks set by President Ilham Aliyev before the Government regarding development of the non-oil sector and diversification of the economy, minister of finance S.Sharifov expressed his confidence in continuation of the bank’s contribution to the fulfillment of obligations set forth towards sustainable economic development in Azerbaijan.
In his turn, Mr. Ihsan Ugur Delikanli stated that BSTDB will thereafter continue successful cooperation with the Government in the direction of ensuring sustainable economic development in Azerbaijan as a reliable partner.
BSTDB was established in 1999 by founding and member states of the Black Sea Trade and Development Bank – Azerbaijan, Albania, Bulgaria, Georgia, Moldova, Romania, Russia, Turkey, Greece, Ukraine and Armenia. The authorized capital of the Bank is €3.45 billion, while its share capital is €2.29 billion. Azerbaijan has a 5% stake in the share capital. The Bank has allocated €359 million to 34 projects of the private sector in total, which is 8.4% of the Bank's portfolio transactions.