Baku, Azerbaijan, June 2
By Anvar Mammadov – Trend:
Azerbaijan Deposit Insurance Fund (ADIF) will repay a loan of five million euros, provided by Germany’s KfW Development Bank, ADIF head Azad Javadov told Trend June 2.
He said the loan was taken in 2010 as part of ADIF’s capitalization program.
“At the last meeting of the Fund’s Supervisory Board, it was decided to repay the loan, as we no longer need these funds,” Javadov noted.
The loan was taken for a period of 40 years.
ADIF has been operating since August 13, 2007.