EBRD fixes terms of signing loan agreement with Azerbaijani bank

Business Materials 27 June 2009 11:53 (UTC +04:00)

Azerbaijan, Baku, June 27 / Trend , U.Ismayilova, N.Ismayilova/

The European Bank for Reconstruction and Development (EBRD) plans to sign an agreement to issue /a $13-million loan to the Azerbaijani Azerdemiryolbank in July, Head of the EBRD Baku Office Francis Delaey said.

Some $3 million of this amount will be spent to issue loans to small- and medium-sized entrepreneurs and $10 million - micro sector.

This loan aims to support the EBRD strategy for Azerbaijan and further support growth of financial mediation and competitiveness.

The technical assistance programs are financed by the EBRD Multi Donor Fund for Early Transition Countries and special fund of shareholders.

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