Azerbaijan, Baku / Trend corr I. Khalilova / The Asian Development Bank (ADB) plans to sign an agreement with Azerbaijan's Bank Respublika for a loan in the sum of $10mln, the director of the Risk Management Department of Bank Respublika, Agshin Amirov, reported.
According to him, at present negotiations regarding the purpose of the loan are being held. "It will either be completely subordinated or half of the loan will be intended for financing small and medium sized businesses," Amirov said.
Even without ADB's funds (the loan is planned to be included in the capital of the second level) Bank Respublika intends to supplement its capital within a month at through funds of acting stockholders. The authorized capital of the bank makes up AZN 19mln and will amount to AZN 25mln.
This is the second loan from ADB for Bank Respublika. The first loan in the sum of $5mln was taken out at the beginning of 2007 and its funds have already been used. The loan was intended for trade financing and development of small and medium sized entrepreneurship.