Azerbaijani bank attracts first loan from ICD

The Azerbaijani JSC AGBank signed a loan agreement with the Islamic Corporation for the Development of the Private Sector, (ICD is included in the Islamic Development Bank) worth $5 million, the bank told Trend on Friday.

"The purpose of the loan is to finance projects that can lead to the significant development of small and medium-sized businesses in Azerbaijan," the bank said.

The agreement was signed yesterday by general and executive director of ICD Khaled Al-Aboodi and AGBank Board Chairman Azer Movsumov.

"This is the first loan the bank attracted from ICD. The loan has been granted for four years," the bank said.


/Trend/