Turanbank and the Black Sea Trade and Development Bank (NBTR) signed a loan agreement in the amount of 10 million manat to expand the financing of small and medium enterprises (SMEs).
Attracted funds will be used to finance small and medium-sized businesses, which will further expand the access of entrepreneurs to financial resources in local currency. It should be noted that Turanbank successfully develops cooperation in the field of attracting international credit lines to finance small and medium-sized businesses. Bank, cooperating with the best financial institutions, such as the International Financial Corporation (IFC), European Bank for Reconstruction and Development (EBRD), EMF Microfinance Foundation, ECO Trade and Development Bank (ECO TDB), etc., strongly supports the sustainable sector development. .
The Black Sea Trade and Development Bank (CBTR) was established in 1999 to support regional development and cooperation in the Black Sea region. The CBTR maintains economic development and regional cooperation, providing loans, credit lines, share capital and guarantees to finance public and private sectors and trade in member countries. The authorized capital of the bank is 3.45 billion euros. The Bank participates in the financing and capital of projects in member countries on the principles of regional cooperation.
Note that Turanbank successfully develops cooperation with the Black Sea Trade and Development Bank since 2011. The Bank continues to support the development of small and medium enterprises due to borrowing.
This is the second loan agreement, signed by the Turanbank and the Black Sea Trade and Development Bank (CBTR) for the financing of micro, small and medium enterprises.