Sahil Babayev, Minister of Finance and Governor for Azerbaijan at the Black Sea Trade and Development Bank (BSTDB), met with a delegation led by Serhat Köksal, President of the organization.

The meeting addressed the Bank’s recent operations, the current partnership framework between Azerbaijan and BSTDB, Azerbaijan’s involvement in the Bank, and prospects for future cooperation.

Minister Babayev briefed the delegation on Azerbaijan’s economic situation and positive trends, noting consistent steps to develop non-oil sectors. He highlighted achievements in agriculture, ICT, manufacturing, logistics, and green energy, emphasizing that these reforms strengthen the national economy’s resilience and ensure inclusive, long-term growth.

The Minister hailed the launch of the second phase of the Medium-Term Strategy and Business Plan, expressing confidence that the expansion of the resource base and full formation of the Bank’s Board of Governors would lead to major achievements in the coming years. He also underlined the importance of BSTDB’s investment in transport and logistics infrastructure, particularly regarding new transport corridors and the reconstruction of Azerbaijan’s liberated territories.

The visit also featured the signing of agreements with two banks, welcomed as a positive step. Officials stressed the importance of expanding financial operations in Azerbaijan, especially through direct loans to the private sector.

Serhat Köksal affirmed that cooperation with Azerbaijan holds strategic importance for the Bank, noting that ongoing reforms have created new opportunities for financial institutions. He added that BSTDB is interested in engaging in larger-scale projects in Azerbaijan and reiterated the Bank’s commitment to supporting joint initiatives.