The Black Sea Trade and Development Bank (BSTDB) has signed a new agreement with Azerbaijan Airlines (AZAL) and is preparing to expand financing for major investment projects across Azerbaijan, including renewable energy, logistics, tourism, and education.

Speaking on the sidelines of the 28th Annual Meeting of the BSTDB Board of Governors in Baku, BSTDB President Serhat Köksal confirmed that the agreement with AZAL was signed on June 30, The Caspian Post reports via Report.

"Yesterday, we signed an agreement with Azerbaijan Airlines," Köksal said.

He also revealed that the bank is in discussions to finance investments in solar power plants, although details of the projects have not yet been disclosed.

Köksal said that the BSTDB plans to mobilize funding for a broad range of projects in Azerbaijan, with logistics, tourism, education, and renewable energy among its priority sectors.

The bank's president emphasized that BSTDB's mission is to promote economic development and strengthen trade among Azerbaijan and other member countries.

He also praised the strong support provided by the Azerbaijani government, saying the bank remains committed to contributing to the country's economic growth through continued investment and financing initiatives.