Azerbaijani Central Bank allocates second tranche to aluminum plant
Azerbaijan, Baku, March 19 / Trend , N. Ismayilova /
The Central Bank of Azerbaijan (CBA) allocated a second tranche worth 61 million manat to the Azeraluminium strategic enterprise, CBA First Deputy Chairman Alim Guliyev said. The loan's total amount for the plant was 202 million manat. The first tranche amounted to 141 million manat.
The loan was granted by state guarantee for 10 years under three percent per annum. The funds will be spent on fulfilling obligations before banks and foreign partners and developing the aluminum industry.
For the first time in its history, the CBA issued a direct loan worth 750 million manat to the State Oil Company of the Azerbaijan Republic for seven years under two percent per annum.
"The CBA has not yet considered the possibility of allocating a third line of loan, although we are ready to continue supporting strategically important enterprises in the country," Guliyev said.