TODAY.AZ / Business

Loan agreement to be signed between International Bank of Azerbaijan and UBS AG Bank

25 April 2006 [09:29] - TODAY.AZ
In May loan agreement for 15 mn Swiss francs to be signed between the International Bank of Azerbaijan (IBA) and UBS AG – one of the largest banks of the world.

The ceremony of signing of this loan agreement designed for funding of import of Swiss and European Union countries’ goods to Azerbaijan will take place in Baku.

As APA reports, the agreement provides that the loan will be insured by the Export Credit Agency (ECA) and Geschaftsstelle fur die Exportrisikogarantie (ERG). The project aims to develop commercial relations between Azeri and European manufacturers.

Depending on the volume of investments, the maximum period of funding of separate projects to be presented by potential beneficiaries will be 5 years.


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