OREANDA-NEWS.   The Black Sea Trade and Development Bank (BSTDB) is providing a new USD 15 million SME Support Loan to Azerbaijan’s AccessBank. The loan proceeds will finance projects for modernization, capacity expansion, diversification of products and services of industrial, agricultural and manufacturing small- and medium-sized enterprises, and working capital requirements.
 
“Strengthened cooperation with AccessBank is an integral part of BSTDB’s strategy in Azerbaijan, promoting growth and diversification through investment in small- and medium-sized enterprises in the non-oil sector”, said Andrey Kondakov, BSTDB President, at the signing ceremony, which took place in Sofia during the Bank’s Annual Meeting.
 
“We strongly welcome the support of our long-term partner, BSTDB. The funds will be on-lend to AccessBank’s clients and contribute to the development of the economy in Azerbaijan” commented Michael Hoffmann, CEO of AccessBank, on the transaction.
 
The new facility builds up on the ongoing, highly successful cooperation between BSTDB and AccessBank. Since 2005, BSTDB has provided USD37 million to AccessBank.