Financed ProjectsTuran Bank

Identification Code:

OP/06/0629

Total Operation Cost:

0

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

BSTDB Revolving and Committed Trade Finance Facility will be used to finance sub-loans made by Turan Bank (the "Borrower") for the purpose of extending short-term pre- shipment and/or post-shipment export and/or import financing to those customers in the Republic of Azerbaijan who import goods from Member Countries and/or export goods to any Country. By working with Turan Bank, BSTDB will be able to reach a larger number of companies in Azerbaijan and contribute to increasing of intra-regional trade among BSEC countries. This operation will complement BSTDB's trade finance program in Azerbaijan.

Countries of Operation:

Azerbaijan (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

JSC Turan Bank is a joint stock company established in 1992 and permitted to carry out all banking operations in national and foreign currency.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The Facility is expected to stimulate economic activity, create employment, and increase competitiveness. BSTDB financing will support local products to access international markets and increase foreign exchange earnings for the country and enhance trade relations among member countries.

Environmental Classification and Impact (summary):

According to the Bank's environmental screening the operation has been assigned into the FI category. In order to reduce/avoid any Environmental, Health & Safety (EH&S) impacts that potentially may arise from trade finance activities the Borrower shall follow the BSTDB's Negative List of Goods and subject domestic legal requirements, as well as shall make sure that the Beneficiaries will fully comply with these requirements. The Borrower shall immediately notify the Bank of occurrence of any incident or accident relating to any underlying export or import transaction of which the Borrower is, or ought to be aware, and which is likely to adversely affect the state of environment, and/or human health and safety.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org