The International Finance Corporation (IFC) and ADA-Ticaret will sign an $18mln credit agreement in February 2007.
The IFC Baku office informed Trend that $6mln is allocated for a share hold in the company and $12mln for development. The IFC Board of Directors implemented the document on July 13th 2006.
The total budget of the ADA project, envisaging the establishment of a supermarket chain titled Almali' in Baku is approximately $50mln. The company is keen to establish 50 supermarkets in the country by the end of 2007.
ADA with 80% of capital that belongs to the Austrian company A & DA Holding GmBH was founded by three private individuals, including one Russian citizen.
Ms Azimova said that the remaining 20% of the company stock has been distributed among the Azerbaijani management of the company.
ADA plans to organize a sale of agriculture products in Azerbaijan and will maintain a range of high-quality products at competitive prices.