Baku: Azerbaijan intends to expand its cooperation with the Black Sea Trade and Development Bank (BSTDB), Azerbaijani Finance Minister and BSTDB Governor for Azerbaijan, Sahil Babayev, announced at the opening ceremony of the 28th Annual Meeting of the Bank's Board of Governors.

According to Azeri-Press News Agency, Sahil Babayev highlighted that the BSTDB demonstrated resilience over the past year by expanding its operational activities and successfully fulfilling its regional development mandate. He emphasized that in 2025, the Bank approved 31 new projects with a combined value exceeding 668 million euros, marking an increase of approximately 81% compared to the previous year. Additionally, the Bank's operational portfolio reached 1.5 billion euros, which reaffirms its efficacy as a regional development institution.

Babayev noted Azerbaijan's interest in further expanding cooperation with the BSTDB in areas such as infrastructure, renewable energy, transport connectivity, and financial sector development. He pointed out that the Bank's focus on energy security aligns with Azerbaijan's strategic priorities. Azerbaijan continues to bolster the region's energy security as a reliable energy supplier and strategic transit hub, while also contributing to the diversification of supply sources and transport routes.

Further emphasizing Azerbaijan's role, Babayev stated that the country plays a pivotal role in enhancing regional connectivity through the Middle Corridor, East-West, and North-South transport corridors. As one of the founding members of the BSTDB, Azerbaijan is committed to supporting the strengthening of the Bank's institutional capacity. Together with other member countries, Azerbaijan aims to advance cooperation to promote sustainable economic growth, regional cooperation, and shared prosperity.