Azerbaijani leasing company launches talks to draw foreign funds
Azerbaijan, Baku, Sept. 1 / Trend , U.Ismayilova/
Due to the lack of funds, Azerbaijani Leasing Company AG Leasing suspended signing new contracts to finance leasing operations, the company said on Sept. 1.
"Currently, the founder of the AG Bank company is holding talks with the International Finance Corporation, Asian Development Bank and other international financial organizations for fundraising," said the company.
The source said 142 treaties are currently operating in the company, including 74 of them were concluded with enterprises and 68 - individuals. Its portfolio is 11.66 million manat. The total amount issued in the leased equipment amounted to 11.95 million manat as for early July 2009.
AGLeasing was established in 2005 by four founders, whose share is as follows: AGBank - 35 percent, the British company Hiperion Capital Management - 30 percent, the American Delta Trans LLC - 25 percent, and British firms Milio Leasing Limited - 10 percent
On Sept. 1, the official exchange rate is 0.8039 manat to $1.
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