Building on the long-standing fruitful partnership between Turanbank and BSTDB, the Bank extended a new local currency loan of AZN 10 million to Turanbank for on-lending to Azerbaijani businesses. This new financing will assist Turanbank towards enhancing the availability of funding to small and medium-sized enterprises for their production and investment programs, as well as for their working capital needs.

This is BSTDB’s second SME loan in local currency to Turanbank, after the successful utilization of the first facility provided in 2019, which reached over 3,000 SMEs in the country. BSTDB started the cooperation with Turanbank in 2011, having extended so far two trade finance credit lines and two SME facilities.