Azеrdеmiryolbank Prepares Projects for Co-financing with EBRD

Business Materials 23 April 2007 10:58 (UTC +04:00)

Azerbaijan, Baku / corr. Trend I.Khalilova / Azеrdеmiryolbank and European Bank for Reconstruction and Development (EBRD) will sign an agreement on EBRD's joining the program of joint financing after selecting concrete projects, said the Chairman of Azеrdеmiryolbank's Executive Board, Roman Amirjanov.

The program envisages to credit large-scale projects while dividing the risks and interests into parity beginnings. The cost of the project amounts to $6 mln. According to Amirjanov, presently the Bank is considering such projects. "Such projects require serious study. Therefore, we will not hurry in selecting them," he said.

At present the funds attracted from the international financial institutions amount to $12.5 mln, including $9.5 mln for supporting micro, small and medium enterprises, $3 mln within revolver credit agreement.