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Gazprombank ready to finance infrastructure projects in Azerbaijan

Business Materials 27 September 2018 18:30 (UTC +04:00)
Russian Gazprombank is ready to finance infrastructure projects in Azerbaijan, first vice-president of the bank.
Gazprombank ready to finance infrastructure projects in Azerbaijan

Baku, Azerbaijan, Sept. 27

By Azad Hasanli - Trend:

Russian Gazprombank is ready to finance infrastructure projects in Azerbaijan, first vice-president of the bank, Aleksey Chichkanov, said at an expanded meeting of the Azerbaijan-Russia and Russia-Azerbaijan business councils held during the 9th Azerbaijan-Russia Interregional Forum in Baku Sept. 27.

"Gazprombank is a leader in financing infrastructure projects. We see the potential of such projects in Azerbaijan in transportation and communications. We are ready to apply our experience and opportunities to finance infrastructure projects in Azerbaijan," he said.

Gazprombank shows a special interest in ensuring that Russian equipment finds its place in the Azerbaijani industry, Chichkanov added.

"The first of our projects was SOCAR Polymer - an $800 million project, of which $489 million was the credit line of Gazprombank. The next step is SOCAR GPC, which is worth $4 billion. We are considering the possibility of allocating up to $700 million for the supply of Russian equipment for SOCAR GPC," Chichkanov said.

Chichkanov mentioned that in early September, during the visit of Azerbaijani President Ilham Aliyev to Russia, an agreement was signed between SOCAR, Gazprombank and the Russian Export Center.

"The agreement is aimed at long-term cooperation so that we can support the supply of Russian equipment and services that are in demand in Azerbaijani projects," he said.

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