A $50m credit agreement was signed between the Azerbaijan International Bank (AIB) and the French bank BNP Paribas. The agreement was signed by the chairman of the AIB department Jahangir Hajiyev and the president of BNP Paribas Michel Pebero.
By signing the agreement, we make exact the cooperation between our banks. Today BNP Paribas is represented in 85 countries around the world, but such agreement is not signed so often. It means a trust on AIB, told Pebero in the signing ceremony. He described two reasons according to which such a decision was made. The first reason is related to the development of the country and the financial indicators of AIB. And the second one includes a desire to develop the cooperation in the future.
The head of AIB noted that a new phase of cooperation started, with this agreement. The credit is disbursed to finance the import of goods and service from 30 Organization for Economic Cooperation and Development member-countries. Depending on the appeal of client, we are ready to finance the import of goods and supplies from the leading European countries, China and Israel, told the head of AIB.
The credit is disbursed from 3 to 10 years and the interest will be defined in accordance with the individual agreements. The amount of the minimal agreement amounts to $1m. in accordance with the agreement, the insurance of the agreements will be made in Export Credit Agency.