BSTDB President Concludes Visit to Azerbaijan
Press Release | 12-Sep-2025
High-level delegation to Baku, meeting government officials, banking leaders, clients, and new partners
A Black Sea Trade and Development Bank (BSTDB) delegation, led by President Dr. Serhat Köksal and joined by Mr. Ziya Aliyev, Vice President Banking, together with senior managers, paid an official visit to Azerbaijan.
During the visit, the delegation held productive discussions with Mr. Sahil Babayev, Minister of Finance and BSTDB Governor for the Republic of Azerbaijan, and Mr. Mikhail Jabbarov, Minister of Economy and Alternate Director at BSTDB. President Köksal briefed the government officials on the Bank’s recent activities and developments. Both sides underscored their commitment to expanding cooperation to foster business development and to support the diversification of the Azerbaijani economy.
The delegation also met with Mr. Zakir Nuriyev, President of the Azerbaijani Banks Association to exchange views on opportunities for enhancing financial cooperation within the country’s banking sector.
In addition, the President signed two loan agreements with Azerbaijani clients: Azer-Turk Bank and Bank Respublika. These agreements will bolster private small and medium-sized enterprises in the non-oil sector, furthering BSTDB’s mission to promote sustainable growth in its member states.
The visit also provided an opportunity for BSTDB to meet with existing clients and explore potential partnerships with new stakeholders, reaffirming the Bank’s role as a trusted regional financial partner.
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 are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.
Contact: Haroula Christodoulou
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