Azerbaijan, Baku / corr Trend I.Khalilova / The Asian Development Bank (ADB) is developing one of the biggest bank projects in the Caucasus in the amount of more than $50mln with an Azerbaijani bank, entering the top five in the country, the Baku Office of the ADB said on 2 October.
The ADB will present this capital as a subordinated loan and it means participation in the capital of the second level. An ADB representative did not publicize this bank.
Soon the ADB plans to approve a subordinated loan in the amount of $10mln for Bank Respublika. The funds will be allotted in installments.
This will be the second loan from the ADB to Bank Respublika. The first in amount of $5mln was provided at the beginning of 2007 and was spent. The loan was allocated for trade financing and for small and medium sized entrepreneurship.