Baku: The Black Sea Trade and Development Bank (BSTDB) and Unibank have signed a USD 7 million trade finance facility to support export and import transactions and improve access to finance for Azerbaijani businesses, particularly small and medium-sized enterprises (SMEs).
According to Azerbaijan State News Agency, the facility will provide short-term financing for eligible trade transactions, helping companies maintain commercial flows and strengthen their links with regional and international markets. 'Facilitating trade and supporting the private sector are central to BSTDB's mandate. We are pleased to expand the network of our active financial intermediaries in Azerbaijan by joining forces with Unibank. Through this facility, the Bank will help Azerbaijani businesses, including SMEs, expand their commercial activities and strengthen their links with regional and international markets,' said Dr. Serhat K¶ksal, President of BSTDB.
Heybat Gadirov, Acting Chairman of the Management Board, Unibank, expressed satisfaction in renewing the partnership with BSTDB, emphasizing the importance of expanding access to trade finance for supporting the growth and competitiveness of Azerbaijani businesses. He noted that this facility will enable Unibank to provide clients with additional financing opportunities, facilitate international trade activities, and contribute to the sustainable development of the country's private sector.
The agreement, signed in Baku during the BSTDB Business Forum, builds on a relationship between BSTDB and Unibank that dates back to 2005. Previous BSTDB facilities supported nearly 150 sub-loans to local SMEs and financed 31 trade transactions totaling USD 24.7 million.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Azerbaijan, Armenia, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Trkiye, 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.