TuranBank has attracted a large loan from a reputable financial institution! (PHOTO)

TuranBank and the Black Sea Trade and Development Bank (BSTDB) have signed a new loan agreement worth $5 million to expand financing for international trade operations. The funds attracted will enable TuranBank to expand import and export operations between member countries and support customers’ business operations.

We would like to inform you that TuranBank has successfully developed cooperation with the Black Sea Trade and Development Bank since 2011 and has financed various fields of activity. It should be noted that the Black Sea Trade and Development Bank has for the first time established a credit line in local currency in the Azerbaijani financial market through TuranBank. The Bank continues to support the development of small and medium enterprises with these funds.

The Black Sea Trade and Development Bank (BSTDB) was established in 1999 to support regional development and cooperation in the Black Sea region. The BSTDB supports economic development and regional cooperation by providing loans, lines of credit, equity and guarantees to finance public and private sector projects and trade in member countries. The Bank’s authorized capital is 3.45 billion euros. The Bank participates in the financing and capital of projects in member countries according to the principles of the development of regional cooperation.

TuranBank is also successfully developing cooperation with other international financial institutions to attract lines of credit for institutional development and financing business entities. Our bank by cooperating with reputable financial institutions such as International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), EMF Microfinance Fund, ECO Trade and Development Bank (ECO TDB) , Sparkassesstiftung, etc. on small and medium entrepreneurship projects strongly support the sustainable development of the non-oil sector.

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