Date of signing of loan contract between EBRD & Azerigasbank determined

The Committee of Directors of the European Bank of Reconstruction and Development (EBRD) plans to approve opening of $4.5m loan line for Azergasbank on 31 March, Trend reports referring to Azer Movsumov, the chair of the Board of Azerigasbank.

$2.5m is envisaged for financing of program on development of trade, $1m small and medium-seize business. According to Movsumov, EBRD scheduled signing of the loan contract for 11 April.

The loan line will be opened for 5 year with 2-year grace period. Small and medium-seize entrepreneurship can receive at most $400,000. Loans for small business can comprise up to $10,000, medium-seize business - $100,000.