In order to finance trade between the member countries of the Black Sea Economic Cooperation, December 5, 2011 The Black Sea Trade and Development Bank (BSTDB) and TuranBank signed a loan agreement worth $ 4 million.
Last year TuranBank successfully used the obligated amount for increasing trade customers with partners of member countries of Black Sea population.
With the increasing demand for trade finance operations, TuranBank reutilized the revolving fund in the amount of U.S. $ 1.6 million. In this direction, in May of 2013 the bank plans to further reutilize this line in the amount of U.S. $ 2.4 million. - 15D -
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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