TODAY.AZ / Business

“International Bank of Azerbaijan-Moscow” to obtain $5 million of credit from Austrian banks

17 January 2006 [05:26] - TODAY.AZ
The “Raiffeisen Zentralbank ?sterreich Aktiengesellschaft” and “Raiffeisenbank Austria” Banks adopted a decision to grant $5 million of credit to the “International Bank of Azerbaijan-Moscow”.

As APA reports being informed by the head office of the “IBA-Moscow”, according to the respective credit agreement signed between the sides, the credit is granted for the period of 6 months for the purpose of funding investment projects in various fields.

The period of this agreement can be elongated for another 6 months in accordance with the agreement of the sides in the middle of the current year.

It should be noted that the “IBA-Moscow” which was established as a branch structure of the IBA with 100% participation of Azerbaijani capital in January, 2002 is the only bank organization of Azerbaijan acting in the territory of Russia at present.


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