Eximbank Issues Loan to Azerbaijani Leasing Company

Business Materials 8 September 2008 13:11 (UTC +04:00)

Azerbaijan, Baku, 8 September / Trend / The US Eximbank decided to issue $2.5mln long-term loan to Unileasing Closed Joint Stock Company (CJSC), the company said on 8 September.

"It is planned to spend some part of the loan to finance export of construction technology within the framework of the project on Leasing of New Holland construction technology," Hikmet Ibrahimov, the director of leasing department of Unileasing, said.

According to Ibrahimov, means of the US financial institution will stimulate development of local entrepreneurship, as well. In this connection, the leasing company invites representatives of local business to cooperate with the objective to realize joint projects on export of technology, equipment and other goods of the US production.

According to Ibrahimov, at present negotiations also are being held with different financial institutions, including the Korea Export Insurance Corporation, the Japanese business banks, to involve means for financing of different projects of local entrepreneurs.

Loan line of the US State Export and Import Agency to the open joint leasing company of Azerbaijan testifies for faith of foreign financial institutions in the Azerbaijani leasing market.

The European Bank for Reconstruction and Development, the International Financial Corporation, the Raifaizenbank, the Islam Private Sector Development Corporation and other financial organizations, which issued a loan to the company, confirmed reliability of Unileasing CJSC.