Azerbaijan, Baku, Nov.1 / Trend, N. Ismayilova /
The Azerbaijani Amrahbank is in negotiations with the EBRD to attract funding, the bank told Trend.
"The bank is negotiating with the EBRD to attract credit line, funds of which will be spent for expanding micro-lending," the bank said.
According to Amrahbank, there are no specific agreements on the amount and terms of issuing the credit line.
The bank's assets are 72 million manat, and by late this year they are forecasted to increase to 80 million manat.
The bank's loan portfolio is about 50 million manat, and by late 2011 it is planned to bring its level to 52-53 million manat.
The EBRD has been actively operating in Azerbaijan since early 1990s. The EBRD currently cooperates with nine banks, six microfinance institutions and three non-bank credit organizations in Azerbaijan.
The EBRD is a financial institution. Its funds are used to establish democracy and market economy in 30 countries in Central Europe and Central Asia. It is owned by 61 countries and two international organizations.