Baku: The Black Sea Trade and Development Bank (BSTDB) has financed projects worth nearly 500 million euros in Azerbaijan to date, Azerbaijan's Minister of Finance and the country's Governor at the BSTDB, Sahil Babayev, told journalists following the 28th Annual Meeting of the Bank's Board of Governors, APA-Economics reports.

According to Azeri-Press News Agency, the minister stated that Azerbaijan has been cooperating with the BSTDB since 1994, and during this period, the Bank has financed projects worth nearly 500 million euros in total. Babayev emphasized that support provided to small and medium-sized businesses through local banks is a significant area within these projects.

Discussions are currently underway on further expanding cooperation with the BSTDB. Within this framework, consideration is being given to enhancing the financing of transnational and regional projects in Azerbaijan, the South Caucasus, and the Black Sea region, particularly focusing on transport corridors and energy projects.

The minister added that the Bank's performance results for 2025 were positively assessed. He noted that last year, both the Bank's financial position strengthened and financial risks in the countries of the region improved or remained stable. Prospective projects for the next period were, therefore, discussed at the meeting.