CredAgro and EBRD deal might be postponed

Business Materials 10 April 2006 15:22 (UTC +04:00)

The credit agreement between the European Bank for Reconstruction and Development (EBRD) and the non-bank crediting organization, CredAgro might be postponed, the CredAgro regional representative, Eldar Jafarov told Trend. The deal had to take place on April 11 within the frames of the EBRD president, Jean Lumiere visit to Baku.

Euro Bank is planning to open a new credit line for CredAgro providing it $1m for 3 year term designed for the support of small and medium business.

The given treaty was postponed as it was disapproved by the CredAgro` s founder- international humanitarian organization ACDI-VOCA. Although, CredAgro could become the first non-bank organization to receive the European bank credit. Before only banks could receive EBRD credits in Azerbaijan.