Minister: BSTDB plans to increase financial support for SMEs in Azerbaijan

The Black Sea Trade and Development Bank (BSTDB) has financed projects in Azerbaijan with a total value of nearly 500 million euros, Finance Minister Sahil Babayev told journalists at the 28th Annual Meeting of the Board of Governors of the BSTDB held in Baku, Report informs.

According to him, the BSTDB is one of the international financial institutions of which Azerbaijan is a member: "Azerbaijan has a long history of cooperation with the Black Sea Trade and Development Bank. Our country has been cooperating with the bank since 1994. During this period, various projects with a total value of approximately 500 million euros have been financed by the bank in Azerbaijan. Among those projects, financial support allocated to small and medium-sized businesses through local banks is considered one of the most important areas."

The minister noted that the BSTDB plans to expand its support for small and medium businesses: "Further expansion of our cooperation with the Bank is envisaged in the coming period. Today's discussions focused on the expansion of transnational and regional projects in Azerbaijan, as well as in the South Caucasus and Black Sea region. In particular, broader support for transport corridors and energy projects, as well as increasing financial support for the private sector, especially small and medium-sized businesses, in Azerbaijan and other member countries were discussed."

Babayev said that he believes the Bank will continue its successful operations in the coming period: "At the same time, we highly appreciate the results of 2025. Last year, financial measures and investment projects implemented by both the regional countries and the Bank yielded successful results. The Bank's financial position has further strengthened, and the financial ratings of the regional countries have either improved or remained stable. In this regard, the successful results of 2025 are noted, and prospective projects for the coming period are being discussed."