Azerbaijan, Baku / Trend corr. I.Khalilova / The European Bank of Development and Reconstruction (EBDR) is consider possibility to allocate credit to the Azerbaijani UniBank for mortgage financing, Varel Friman, EBDR's first vice-president, said during signing the agreement with UniBank on syndicated credit.
"The mortgage crediting market is very interesting sphere in Azerbaijan," Friman said.
Regardless of the fact that the mortgage crisis in the United State affected almost all countries, the European Bank is ready to finance the mortgage in Azerbaijan.
The crisis in the United States affected both on the Americans and European banks, including EBDR. Therefore, most banks do not risk signing long-term crediting agreements.
The management of the UniBank, Faig Huseynov, said the bank holds negotiations with EBDR concerning allocation of about $6mln or $7mln for mortgage crediting. UniBank considers borrowing funds in amount of $15mln from two other banks alongside with EBDR.
UniBank's portfolio makes up $35mln, but the sum may be increased by $10mln by the end of the year. UniBank is the agent of the Azerbaijani mortgage fund which allocate credits in amount of AZN5mln or AZN6mln taking into consideration re-financing.