Azerbaijan, Baku, Nov. 12 /Trend Capital/

The German Deutsche bank allocated an $80-million bank credit to the State Oil Company of the Azerbaijan Republic (SOCAR), SOCAR President Rovnag Abdullayev said in Baku at a meeting with the bank's management.

Abdullayev said the bank's credit will finance SOCAR investment programs.

The SOCAR head said the Deutsche bank credit show's the interest of international financial institutions in projects in Azerbaijan despite the global economic crisis.

The bank has a significant interest in SOCAR projects, and underscored the possibility for further cooperation with the organization, bank official Ben Dobson said at a meeting with Abdullayev.