Government to address ADB with refusal from credit obtaining against governmental security
This week the Ministry of Economic Development of Azerbaijan is officially addressing the Asian Development Bank with proposal on transferring the credit for micro- and agricultural financing to Azerbaijans private sector.
The Ministry officials told Trendthe government already had decided on refusal from this credit against governmental security. Credit resources may receive the banks and microfinancing organizations.
ADB already announced its readiness to issue the government a $25mln credit with its further increase to $100mln. However, due to lack of governmental securities ADB would hardly issue large credits for private sector, which might depend on banking sector readiness as well.