BAKU, Azerbaijan, September 10. Azerbaijan’s
Minister of Finance and Country Manager for the Black Sea Trade and
Development Bank (BSTDB), Sahil Babayev, hosted a delegation led by
BSTDB President Serhat Köksal during their visit to Azerbaijan, the
Ministry of Finance told Trend.
The meeting focused on the Bank’s recent activities, existing
partnership ties with Azerbaijan, the country’s representation in
the Bank, and future avenues for collaboration.
The Ministry noted that the BSTDB maintained a cautious
consolidation approach amid a complex geopolitical environment,
successfully implementing the first phase of its Medium-Term
Strategy and Business Plan for 2023–2026. The Bank’s results in
2024 and early indicators for 2025 underscore its operational
capacity and financial resilience.
Babayev briefed the delegation on Azerbaijan’s current economic
performance and positive trends, highlighting steady progress in
non-oil sectors, including agriculture, information and
communication technology (ICT), manufacturing, logistics, and green
energy. He emphasized that these reforms enhance the country’s
economic stability and promote inclusive, long-term growth.
The Minister praised the launch of the second phase of the
Medium-Term Strategy and Business Plan, expressing confidence that
expanding the resource base and fully forming the Bank’s management
board would enable greater achievements in the coming years. He
also stressed the importance of BSTDB’s investments in transport
and logistics infrastructure, particularly in the context of
opening new transport corridors and rehabilitating territories
liberated from occupation.
During the visit, the signing of agreements with two banks was
highlighted as a positive step, facilitating increased operations
in Azerbaijan and direct lending to the private sector.
Köksal underscored that Azerbaijan represents a strategic
partner for the Bank. He noted that ongoing reforms in the country
create new opportunities for financial institutions, and expressed
BSTDB’s interest in participating in larger-scale projects and
supporting joint initiatives in Azerbaijan.
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