Turanbank and the Black Sea Bank of Trade and Development (CBTR) signed a new credit agreement for $ 5 million to expand financing foreign trade operations. The raised funds will allow Turanbank to expand import and export operations between the countries of the Black Sea Economic Cooperation Organization and support customer trading operations.
Turanbank since 2011 has been successfully developing cooperation with the Black Sea Bank of Trade and Development and finances various areas of business spheres. It should be noted that the Black Sea Bank of Trade and Development for the first time in the financial market of Azerbaijan has implemented a credit line in manat through Turanbank. Turanbank continues to support the development of small and medium -sized businesses with these means.
The Black Sea Bank of Trade and Development was created in 1999 to support regional development and cooperation of the Black Sea region. The CBTR supports economic development and regional cooperation, providing loans, credit lines, joint-stock capital and guarantees to finance state and private sectors and trade in member countries. The bank is involved in financing and capital capital in member countries on the basis of the principles of development of regional cooperation.
Turanbank also successfully develops cooperation with other international financial institutions to attract credit lines for institutional development and financing of business entities. Our bank collaborates with prestigious financial institutions, such as the International Financial Corporation (IFC), the European Bank of Reconstruction and Development (EBRD), the EMF microfinance fund, the ECO Trading and Development Bank (ECO TDB), Sparkassensestifung, etc., decisively supporting sustainable development of the non sectors in projects of small and medium -sized businesses.