BSTDB Supports SME Sector in Azerbaijan

News | 21-Oct-2009

BSTDB is providing a USD 4 million SME loan facility to Azer-Turk Bank with 5 years tenor.

The loan facility will be used by Azer-Turk Bank to finance local small and medium sized enterprises (SMEs) particularly for the purposes of development, modernization, expansion and diversification of industrial, agricultural or service-related facilities. The facility will also cover working capital requirements for production or service related facilities, export and pre-export financing of industrial or agricultural enterprises.

Signing the agreement, BSTDB’s President Hayrettin Kaplan stressed that the loan is an important step towards strengthening the non-oil sector in Azerbaijan and towards developing the financial services in the country. Supporting operations involving more than one member state is a priority for BSTDB