EBRD (European Bank for Reconstruction and Development is about to approve turning AzerDamirYolBank to a new co-financing programme within November, this year, Roman Amirdjanov, President of the Azerbaijani Bank, told Trend. The credit line of EBRD for AzerDamirYolBank is expected at an amount of $6 mln. The same amount is expected to be invested by the Azerbaijani Bank.
According to Mr. Amirjanov, presently, the negotiations with EBRD are coming to an end. The credit line is expected to be considered for 7 years.
AzerDamirYolBank shareholders have already approved receiving the new credit line from EBRD. The project envisages crediting large-scale projects at sharing all risks and interests on the basis of parity.
Up to date, the total volume of means brought from the above-mentioned institution by AzerDamirYolBank has reached $12,5 mln, including $9,5 mln., on supporting the macro, micro, and middle-sized enterprises, and $3 mln. within a program on trade financing. EBRD is rendering its technical aid to the Azerbaijani Bank. The cooperation between EBRD and AzerDamirYolBank started in 1987.
In December, 2005, EBRD became a stockholder of AzerDamirYolBank. EBRD has 25 percent + one share, in the capital of the Azerbaijani Bank.