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International Finance Corporation and Bank Respublica Strike Credit Deal

Business Materials 13 March 2007 15:18 (UTC +04:00)

Azerbaijan, Baku / Trend , corr I. Khalilova / Bank Respublika and International Finance Corporation (IFC) that is a member of the World Bank group have struck a credit deal.

According to the agreement, the IFC is to open a $5mln long-term credit line for small-scale and middle-scale businesses.

Bank Respublica co-operates with the European Bank for Reconstruction and Development, Asian Development Bank, Dutch Finance Development Company, German Investment Company DEG, Black Sea Commerce and Development Bank, Germany-Azerbaijan Fund, Raiffeisen Bank, Commerzbank and other international financial organizations.

The total value of the various financial institutions opened for Bank Respublica exceeds $75mln that enables the Bank to allot long-term credits and provide commercial services on more favorable terms.

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