Azerbaijan, Baku, 4 April / corr. Trend I. Khalilova/ William Williams, the director of Finance and Capital Markets Department of the Division on Operations in Private Sector of the Asian Development Bank (ADB), will pay three-day visit to Baku on 7 April to take part in the fifth Caspian International Conference-Exhibition Banking and Finances, said Baku Office of ADB.
The banking conference will be held on 8-9 April and Williams will make presentation Development of Global Financial Markets and Influence on Capital Markets in Caspian Region. Williams is expected to touch upon the influence on markets in Azerbaijan and Kazakhstan as well.
ADB became more active since 2007 and is one of the key players on direct financing of banking in Azerbaijan. Its portfolio has increased up to $50mln.
In summer 2007, ADB announced its plans to expand portfolio on banking in Azerbaijan up to $120mln, however, ABD experts say that it can be delayed. It was earlier announced that they can be accessed up to May 2008. The possibility of granting credit to Texnika Bank and Standard Bank and the plans to further finance International Bank of Azerbaijan (IBA) are being considered at present.
Some $50mln is expected to be allocated for Texnika Bank and bridge financing will be carried out until the issue of Eurobonds.
The project on securitization of car crediting worth of $50mln is being worked out for Bank Standard.
The Asia Bank has already approved the credit worth of $40mln for IBA. The first contract at $20mln was signed in 2007.
At present ADB cooperates with Bank Respublika, Bank of Baku, Azerbaijani Micro-Finance Bank and AGBank.
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