The signing ceremony of the credit agreement between Azerigazbank and Asian Development Bank (ADB) will be held on 25 May, 2006 in Baku, Trend reports with reference Chingiz Asadullayev, the chairman of Banks Supervisory Board.
In accordance with the agreement project submitted to the bank, Azerigazbank will be disbursed a credit in amount of $3.5 million and $0,5m revolver credit.
According to Asadullayev, it is not expected to make a treaty with ADB on the purchase of the share of Azerigazbank during the signing ceremony. ADB participation share in the capital of Azerbaijani bank is 17.5%. After the signing of the treaty on sale-purchase of the share, ADB made a statement on the readiness of disbursing the credit to the development of small and medium enterprises.
On the same day, an agreement will also be signed on the disbursement of the $4m revolver credit to the Bank Respublika