BSTDB and Azerdemiryolbank (Azerbaijan) sign agreement

Press Release | 12-Jun-2006

The Black Sea Trade and Development Bank (BSTDB) will make available a US $ 2 million short-term unsecured senior loan to Azerdemiryolbank (Azerbaijan).

The general multi-purpose loan facility provided to Azerdemiryolbank (ADB) will be used to on-lend to Azeri companies that will include the financing of projects for the creation, modernization, expansion and diversification of business facilities; working capital financing for trade, service, infrastructure and manufacturing enterprises, export and pre-export financing, etc.

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Azerdemiryolbank (ADB) is a private bank founded in 1989. In 2005 EBRD became a shareholder of the bank with a blocking stake (25% + 1 share).
Ranked among top 10 Azerbaijani banks in terms of assets, ADB provides consumer and corporate loans, with a major share of its loan portfolio accounting for trade and financing in construction and manufacturing sectors. ADB has executed loan agreements with IFC, EBRD, as well as with KfW (Germany) and European Commission under TACIS program. ADB is rated Long Term CCC+ by Fitch.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. With an authorized capital of SDR 1 billion (approx. USD 1,45 billion), the Bank supports economic development and regional cooperation by providing financing, guarantees, and equity for projects in the public and private sectors in its member countries. BSTDB is rated Long Term Baa2 and Short Term P2 by Moody’s.