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EBRD allocates loan for Azerbaijani enterprise

Finance Materials 1 December 2022 14:10 (UTC +04:00)
EBRD allocates loan for Azerbaijani enterprise
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, December 1. The European Bank for Reconstruction and Development provided "Gemza Group" LLC with a secured loan worth 5.6 million euros for the construction of three modern warehouses, Trend reports via the EBRD.

According to the bank, the project is going to expand the activity of the company in its new business direction and diversify its revenues.

"The system of direct financing of SMEs is aimed primarily at competitiveness, helping the SMEs become more efficient and professional. This project also supports the achievement of goals in the field of environmental friendliness," said the bank.

The EBRD said the total value of the project is 19.105 million euros.

"Gemza Group" is a company that provides services for the supply of equipment (pumps and valves), production and repair of spare parts, technical maintenance, and overhaul in Azerbaijan, some Central Asian countries, the UAE, and Turkiye.

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