IBA and Sumitomo Mitsui Banking Corporation made loan agreement
Signing of the agreement on opening the credit line for the amount of $15 million for funding the Japanese import goods to Azerbaijan took place between the International Bank of Azerbaijan and one of the largest banks of Japan, Sumitomo Mitsui Banking Corporation. The agreement envisages financing of the Japanese import goods to Azerbaijan with their insuring at the Nippon Export and Investment Insurance (NEXI) company, Trend reports.
Willingness of the largest finance institutions to cooperate with NBA is the result of the constant strengthening of the banks positions at the international financial markets. Thus, in June 2005 the French bank "SociГ©tГ© GГ©nГ©rale" and NBA signed the agreement on opening the credit line for the amount of 45 million euro to the Azerbaijan bank.
These credit lines including Sumitomo Mitsui Banking Corporation have been drawn without the state guarantees.