Bank of Baku Completely Spent an EBRD Credit Line
Bank of Baku OJSC has completely spent a credit line at $4.5 mln. granted by EBRD (European Bank for Reconstruction and Development). The credit was granted con the basis of the agreement signed on May 20, 2006, Trend reports referring to a message spread by Bank of Baku.
The above-mentioned sum was sent to financing the small-scale and medium-sized entrepreneurship, as well as offering micro credits (loans).
Notably, Bank of Baku has cooperated with EBRD since 2004. The total volume of means EBRD has granted to the Azerbaijani Bank up to date has reached $10.5 mln, including $4 mln - on financing foreign trade operations of the Bank's clients, $4.5 mln on financing the small-scale and medium-sized entrepreneurship, and $2 mln on giving macro credits (loans).
The total amount of the financing of international financial organizations has reached $20 mln.