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Azerbaijani Bank's shareholders approve loan agreement with IFC

Business Materials 12 June 2010 14:01
The Azerbaijani Bank Respublika's shareholders adopted a decision on approval of the loan agreement worth $ 20 million signed with the International Finance Corporation (IFC) at the next general meeting, the bank reported.
Azerbaijani Bank's shareholders approve loan agreement with IFC

Azerbaijan, Baku, June 12 / Trend /

The Azerbaijani Bank Respublika's shareholders adopted a decision on approval of the loan agreement worth $ 20 million signed with the International Finance Corporation (IFC) at the next general meeting, the bank reported.

The loan is designed for further financing of micro, small and medium businesses. Previously, IFC has provided the Bank Respublika credit lines for financing small and medium businesses, as well as trade within the program to promote the world trade.

Bank Respublika started operating in 1992. Among its shareholders are two large German financial institutions DEG and SIDT with a Bank Respublika share package of 25 percent + 1 share. The bank has 33 branches and units in Baku and the regions. Bank Respublika has a rating of B2 with stable outlook from the international rating agency Moody's Investors Service.

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