EBRD to Grant Almost $20mln Loan to Azerbaijani Bank

Business Materials 14 May 2008 14:32 (UTC +04:00)

Azerbaijan, Baku, 14 May / corr Trend I.Khalilova / Shareholders of AG Bank have approved a $19.5mln loan allocated by the European Bank for Reconstruction and Development (EBRD), Alakpar Aiyev, head of the PR Department of AGBank said on 14 May.

On 18 May, the credit agreement is expected to be signed in Kiev during the annual meeting of the managers of EBRD. The credit will consist of three parts: EBRD will allocate $5mln loan for 5 year period with delay of two years for the small and medium business, and some $3mln for the micro and small under the same conditions. The remaining credit lines are meant for the commercial financing: some $2mln will be allocated for a 5 year period within MCFF, some $5mln for a five year period within MCFF Participation Facility and $4.5mln for 18 months period within TFP Facility.