The signing of trilateral agreement with Asian Development Bank and International Financial Corporation for their joining Joint-Stock Investment Azerigazbank shareholders is scheduled to late August. Aliya Azimova, IFC representative to Azerbaijan, told Trend the final agreement signing is delayed due to some technical issues. At the moment related documentation is being prepared.
Total stock to be handed to these organizations is 35%.
These organizations are sharing equal stock, i.e. 17.5% each. IFC already announced purchasing 17.5% tock in Azerigazbank at $2.3mln.
The banks charter capital today mounts 7.4mln manat and total nearly 9mln AZN. By the end of 2006 charter capital will be raised to 12mln manat.