TODAY.AZ / Business

Ceremony of signing of contract on EBRD’s giving credit to “Bank Respublika” and “UniBank” held

20 December 2005 [10:03] - TODAY.AZ
A ceremony of signing of the contract on lending $ 2 million to “Bank Respublika” and $ 2 million to “UniBank” by the European Bank for Reconstruction and Development (EBRD) was held yesterday.
The document was signed by the head of the Baku Office of EBRD Raymond Convey, director of the Small Business Group of the Bank Chikako Kuno, deputy-chair of the Administrative Board of “Bank Respublika” Rafael Gasimov and chair of the Administrative Board of “UniBank” Faig Huseynov.

R.Convey noted in his speech that the loans, for four and five years respectively, are between $ 100 and $ 100 thousand to further promote the entrepreneurial activities in the country. The EBRD program now works with 55 banks in its countries of operation to provide financial access to smaller borrowers. EBRD will offer technical cooperation to help the participating banks extend this service further into the regions and will be coordinating this effort with the German-Azerbaijan Fund.

C.Kuno said that credits will be given to several more banks and cooperation will be started with non-bank organizations next year as well.

/APA/

URL: http://www.today.az/news/business/21868.html

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