$11 million credit line opened to banks in Azerbaijan

As APA reports, $4 million of credit line was granted to publicly-owned Kapital Bank, $2 million was granted to private banks Texnikabank and Azerdemiryolbank for each and another credit line of 2 million EUR was given to Bank Respublika. BSTDB President Hayrettin Kaplan and heads of Kapital Bank, Texnikabank and Azerdemiryolbank participated in the signing ceremony.

Bank Respublika officials are to sign the agreement by late June to receive the credit line.

According to Mr. Kaplan, the one-year credit is granted at annual interest rate of Libor+2,5%. Credits may be financed to the development of any field.

Black Sea Business Forum was today held within the framework of XIII Session of Black Sea Trade and Development Bank Directorate. The working group had discussions on the role of financial sector in the economic development, investments opportunities in food industry and agrarian business, infrastructural development issues, led in the Session of Directorate and the business forum with about 250 local and foreign businessmen. The decision was made there.

The next session of the Bank's Directorate will be in June next year.