BAKU, Azerbaijan, Nov. 12
By Zeyni Jafarov – Trend:
Gazprombank and the International Bank of Azerbaijan signed an agreement on rendering the services in the field of banking support of contracts as part of promoting the "Cross-border banking support of contracts" product, Trend reports with reference to Gazprombank.
The agreement envisages the joint participation of banks in rendering banking support services for the projects being implemented in Azerbaijan.
Gazprombank together with the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) held the first online seminar in Azerbaijan entitled "Banking support of contracts" in May 2020. The Azerbaijani biggest companies have shown the biggest interest in this product.
Executive vice president of Gazprombank Oleg Melnikov said that by concluding such a contract, long-term and fruitful cooperation was launched in an absolutely new area for Azerbaijan's business.
"For the first time in the Azerbaijani banking sector, the International Bank of Azerbaijan and Gazprombank signed an agreement on rendering the services in the field of banking support of contracts,” Director General of the International Bank of Azerbaijan Nargizkhanim Bilandarli said. “This document envisages cross-border banking support of contracts."
“The agreement also reflects the intention to jointly participate in big infrastructure projects being implemented in Azerbaijan,” Bilandarli said.
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