BSTDB Advances Key Projects In Azerbaijan Through New Loan Agreement
Date
12/9/2024 5:17:03 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, December 9. The Black Sea
Trade and Development bank (BSTDB or the Bank) and Standard
Chartered Bank (Standard Chartered) have inked a EUR 75 million
long-term loan facility agreement, Trend reports via the Bank.
The funds from this facility are earmarked for vital development
projects across Albania, Azerbaijan, and Türkiye, reinforcing
BSTDB's role in promoting sustainable economic growth.
The Islamic Corporation for the Insurance of investment and
Export Credit (ICIEC) is supporting this facility.
Standard Chartered is the Mandated Lead Arranger, ICIEC
Coordinator and Structuring Bank and Bookrunner. By leveraging
Standard Chartered's expertise and ICIEC's risk mitigation
capabilities, BSTDB is taking decisive steps toward bolstering
economic stability and growth in the region. This facility embodies
a strategic collaboration aimed at reinforcing the Bank's mission
to empower its member states through impactful financial
partnerships. The facility earmarks developmental projects where
the mandates of ICIEC and BSTDB intersect, thereby strengthening
the collaboration between the institutions.
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