BSTDB EXPANDS ITS TRADE FINANCE PROGRAM IN AZERBAIJAN

Press Release | 04-Jul-2006

The Black Sea Trade and Development Bank (BSTDB) selected Commercial Bank Respublika as a financial intermediary to deliver its trade finance products in Azerbaijan.

BSTDB will make available up to € 2,3 million revolving trade finance facility to Bank Respublika to advance short-term sub-loans to companies in Azerbaijan importing goods from other BSTDB member-countries or exporting goods to other countries.

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Bank Respublika is a private bank established in 1992. In 2005 DEG (KfW Group) and SIDT (International Development Trust) of Germany joined the shareholding structure of the Bank with 25% stake.

Ranked 8th in Azerbaijan in terms of assets, Bank Respublika operates through a growing network of its branches in Azerbaijan mainly providing loans to individuals and commercial customers, with trade financing accounting for a major part of its activities. The Bank has good experience and ambitious targets in servicing international trade including that among BSEC countries. Bank Respublika works successfully with EBRD.

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.