Eurasian Development Bank finances Alfa Bank’s foreign trade operations
Baku, Azerbaijan, Mar. 1
By Ali Mustafayev – Trend:
The Eurasian Development Bank (EDB) and Alfa Bank signed an agreement to finance foreign trade transactions of Alfa Bank’s clients.
The agreement envisages that the funds should be used primarily in the EDB member states, a source in the Kazakh Stock Exchange told Trend.
The agreement was signed by Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at the EDB, and Alina Anikina, Chair of the Management Board at Alfa Bank.
“The project can foster the development of corporate connections and business partnerships in the Bank’s member states as regards trade in machinery, parts and components, feedstock and equipment and this should create prerequisites for the development of joint ventures,” Ladikov-Roev said, commenting the cooperation with the EDB.
The EDB will provide US $20 million for five years, according to the agreement. Sub-loans may be extended for three to twelve months in the US dollars, euro, tenge or Russian roubles.