Azerbaijan, Baku, Dec. 17 / Trend N.Ismayilova /
The Central Bank of Azerbaijan (CBA) allocated the second direct loan in the history of the organization to Azeraluminium, CBA First Deputy Chairman Alim Guliyev said today.
The first loan worth 750 million manat was allocated to the State Oil Company of the Azerbaijan Republic (SOCAR) for seven years under a rate of two percent per year.
The CBA has allocated 202 million manat for an aluminum plant.
The CBA has already allotted the first tranche worth $141 million manat, Guliyev said
According to Guliyev, a loan was issued with an interest rate of three percent per annum under a state guarantee for 10 years. The funds will be given to the company to implement its obligations to banks and foreign partners, and for measures to develop the aluminum industry
The CBA is not considering the allocation of the third such financing, but it is possible that this practice of lending for strategically important projects will continue in the future.
On Dec. 17, the official exchange rate is 0.8032 manat to $1.
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