The Black Sea Trade and Development Bank (BSTDB) will make available loans to several Azeri banks.

BSTDB is providing a US$4mn one-year unsecured senior loan to Kapital Bank of Azerbaijan. The bank will also make available a US$2mn unsecured bank-to-bank credit facility to Technikabank and a US$2mn short-term unsecured senior loan to Azerdemiryolbank.

All these loans will be used for general multi-purposes, including short-term financing of specific projects for the creation, modernisation, expansion and diversification of any business facilities; working capital financing for trade, service, infrastructural and manufacturing enterprises for general day-to-day operations; export and pre-export financing.